Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Red Hat (RHT) Stock Price

News stories about Red Hat (NYSE:RHT) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Red Hat earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave media headlines about the open-source software company an impact score of 45.9615805198238 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:

RHT has been the subject of several analyst reports. Barclays PLC increased their price objective on Red Hat from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 18th. Bank of America Corporation reiterated a “neutral” rating and set a $115.00 price objective (up previously from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Wells Fargo & Company reiterated an “outperform” rating and set a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a report on Wednesday, September 27th. Credit Suisse Group reiterated a “neutral” rating and set a $113.00 price objective (up previously from $111.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Zacks Investment Research lowered Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the stock. Red Hat currently has an average rating of “Buy” and an average price target of $110.93.

Shares of Red Hat (RHT) traded down $0.68 during trading on Friday, reaching $125.95. 1,331,998 shares of the company were exchanged, compared to its average volume of 1,258,579. The stock has a market cap of $22,455.38, a price-to-earnings ratio of 69.20, a PEG ratio of 4.00 and a beta of 1.18. Red Hat has a 1 year low of $68.54 and a 1 year high of $126.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. Red Hat’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. equities analysts anticipate that Red Hat will post 2 EPS for the current fiscal year.

In other Red Hat news, EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $129,146.28. Following the transaction, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the transaction, the insider now directly owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders sold a total of 234,172 shares of company stock worth $4,072,377 over the last three months. Corporate insiders own 0.66% of the company’s stock.

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Red Hat Company Profile

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

Insider Buying and Selling by Quarter for Red Hat (NYSE:RHT)

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