Red Hat (NYSE:RHT) had its target price hoisted by Evercore ISI to $140.00 in a research note issued to investors on Monday, December 18th, The Fly reports. Evercore ISI currently has a buy rating on the open-source software company’s stock.
A number of other research analysts also recently commented on RHT. Robert W. Baird reissued a hold rating on shares of Red Hat in a research report on Tuesday, September 26th. BTIG Research restated a buy rating and issued a $120.00 price target on shares of Red Hat in a report on Wednesday, September 27th. JPMorgan Chase & Co. restated an overweight rating and issued a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. BMO Capital Markets restated a market perform rating and issued a $128.00 price target (up from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Barclays lifted their target price on shares of Red Hat from $120.00 to $122.00 and gave the stock an overweight rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $124.25.
Red Hat (NYSE RHT) traded down $0.21 during trading on Monday, hitting $125.95. 1,067,153 shares of the stock traded hands, compared to its average volume of 1,920,000. The company has a market cap of $22,290.00, a price-to-earnings ratio of 68.45, a PEG ratio of 3.79 and a beta of 1.19. Red Hat has a 12-month low of $71.50 and a 12-month high of $130.93. The company has a quick ratio of 1.30, a current ratio of 1.37 and a debt-to-equity ratio of 0.53.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million for the quarter, compared to the consensus estimate of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. equities analysts forecast that Red Hat will post 2.08 EPS for the current year.
In other news, CEO James M. Whitehurst sold 4,211 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $506,835.96. Following the completion of the sale, the chief executive officer now owns 380,158 shares of the company’s stock, valued at $45,755,816.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last three months, insiders sold 8,172 shares of company stock valued at $985,517. 0.66% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of Red Hat by 8.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 43,027 shares of the open-source software company’s stock valued at $5,168,000 after acquiring an additional 3,179 shares during the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in shares of Red Hat during the 4th quarter valued at about $478,000. Sit Investment Associates Inc. acquired a new position in shares of Red Hat during the 4th quarter valued at about $1,218,000. Capital Investment Services of America Inc. boosted its position in shares of Red Hat by 119.0% during the 4th quarter. Capital Investment Services of America Inc. now owns 52,150 shares of the open-source software company’s stock valued at $6,263,000 after acquiring an additional 28,340 shares during the last quarter. Finally, Aurora Investment Counsel acquired a new position in shares of Red Hat during the 4th quarter valued at about $493,000. 93.57% of the stock is owned by institutional investors and hedge funds.
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.
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