News headlines about Red Hat (NYSE:RHT) have trended somewhat positive this week, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Red Hat earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave media coverage about the open-source software company an impact score of 46.1918206547317 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Project Future Performance Before Investment – Red Hat, Inc., (NYSE: RHT) – Stock Watch (stocksnewstimes.com)
- Recent Institutional Activity: New York REIT, Inc. (NYRT), Red Hat, Inc. (RHT) – Market Movers (financialqz.com)
- Red Hat News Leftovers (tuxmachines.org)
- Reviewing Red Hat (RHT) and SciQuest (SQI) (americanbankingnews.com)
- Fascinating Stocks – Red Hat, Inc., (NYSE: RHT), Brandywine Realty Trust, (NYSE: BDN) – Stocks In The News (press release) (tradingnewsnow.com)
RHT has been the topic of several research reports. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price objective on shares of Red Hat in a research report on Wednesday, September 20th. Drexel Hamilton reissued a “buy” rating and issued a $127.00 price target on shares of Red Hat in a research report on Tuesday, September 19th. Moffett Nathanson initiated coverage on Red Hat in a research report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, Mizuho reissued a “buy” rating and issued a $125.00 price target (up from $109.00) on shares of Red Hat in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the stock. Red Hat presently has an average rating of “Buy” and an average target price of $111.86.
Shares of Red Hat (RHT) traded up $1.07 during trading on Wednesday, reaching $121.94. 1,988,076 shares of the company traded hands, compared to its average volume of 1,660,271. Red Hat has a one year low of $68.54 and a one year high of $129.61. The company has a market cap of $21,449.83, a P/E ratio of 66.10, a P/E/G ratio of 3.82 and a beta of 1.19. 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 released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 20.6% on a year-over-year basis. analysts anticipate that Red Hat will post 2 earnings per share for the current fiscal year.
In other news, CEO James M. Whitehurst sold 12,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the sale, the chief executive officer now directly owns 392,979 shares in the company, valued at approximately $43,679,615.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders have sold a total of 34,172 shares of company stock valued at $3,926,377 in the last three months. Insiders own 0.66% of the company’s stock.
About Red Hat
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.
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