Red Hat (NYSE:RHT) had its price objective increased by BMO Capital Markets from $142.00 to $172.00 in a research report sent to investors on Friday morning. BMO Capital Markets currently has a market perform rating on the open-source software company’s stock.
Several other brokerages also recently commented on RHT. Zacks Investment Research downgraded Red Hat from a buy rating to a hold rating in a report on Wednesday, December 27th. Citigroup reissued a buy rating and issued a $148.00 price objective on shares of Red Hat in a research note on Wednesday, December 13th. Nomura initiated coverage on Red Hat in a research note on Tuesday, January 23rd. They issued a buy rating and a $152.00 price objective for the company. BTIG Research increased their price objective on Red Hat from $120.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, December 20th. Finally, Wells Fargo set a $144.00 price target on Red Hat and gave the stock a buy rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $131.78.
Red Hat (NYSE RHT) opened at $147.90 on Friday. Red Hat has a 52 week low of $81.92 and a 52 week high of $157.22. The firm has a market capitalization of $26,732.96, a PE ratio of 80.82, a P/E/G ratio of 4.00 and a beta of 1.06. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53.
Red Hat (NYSE:RHT) last announced its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The business had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. During the same quarter last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. equities analysts forecast that Red Hat will post 2.08 EPS for the current fiscal year.
In other news, CEO James M. Whitehurst sold 5,593 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $698,397.91. Following the transaction, the chief executive officer now owns 373,506 shares of the company’s stock, valued at approximately $46,639,694.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 7,700 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the completion of the sale, the director now directly owns 61,652 shares in the company, valued at approximately $8,014,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,686 shares of company stock worth $1,873,342. 0.66% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tredje AP fonden acquired a new stake in Red Hat in the 3rd quarter valued at approximately $345,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Red Hat by 9.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,432 shares of the open-source software company’s stock valued at $1,600,000 after buying an additional 1,224 shares during the last quarter. TRUE Private Wealth Advisors acquired a new stake in Red Hat in the 4th quarter valued at approximately $595,000. Great West Life Assurance Co. Can grew its holdings in Red Hat by 38.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 174,899 shares of the open-source software company’s stock valued at $19,201,000 after buying an additional 48,695 shares during the last quarter. Finally, Gofen & Glossberg LLC IL grew its holdings in Red Hat by 4.0% in the 4th quarter. Gofen & Glossberg LLC IL now owns 41,742 shares of the open-source software company’s stock valued at $5,013,000 after buying an additional 1,595 shares during the last quarter. 95.71% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://ledgergazette.com/2018/03/24/red-hat-rht-given-new-172-00-price-target-at-bmo-capital-markets.html.
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.
Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.