Red Hat Inc. (NYSE:RHT)‘s stock had its “buy” rating restated by research analysts at Mizuho in a note issued to investors on Wednesday.
A number of other analysts have also recently weighed in on the stock. Vetr raised shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price objective on the stock in a report on Thursday, September 8th. Deutsche Bank AG reissued a “buy” rating and set a $95.00 price objective on shares of Red Hat in a report on Saturday, August 13th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $88.00 price objective on shares of Red Hat in a report on Monday, June 6th. Royal Bank Of Canada reissued a “buy” rating on shares of Red Hat in a report on Thursday, June 16th. Finally, Barclays PLC reissued a “buy” rating and set a $90.00 price objective on shares of Red Hat in a report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $88.50.
Shares of Red Hat (NYSE:RHT) opened at 80.02 on Wednesday. Red Hat has a one year low of $59.59 and a one year high of $84.44. The company’s 50-day moving average is $74.23 and its 200-day moving average is $74.16. The stock has a market capitalization of $14.49 billion, a P/E ratio of 70.19 and a beta of 1.32.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Red Hat had a net margin of 9.93% and a return on equity of 18.27%. The company earned $599.80 million during the quarter. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts anticipate that Red Hat will post $2.21 earnings per share for the current year.
In other news, EVP Michael Cunningham sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the executive vice president now owns 52,484 shares of the company’s stock, valued at approximately $3,936,300. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total transaction of $174,427.85. Following the sale, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at approximately $4,426,607.40. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Wunderlich Capital Managemnt acquired a new stake in Red Hat during the second quarter worth about $137,000. Mizuho Asset Management Co. Ltd. increased its stake in Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock worth $174,000 after buying an additional 1,333 shares during the period. Hills Bank & Trust Co. acquired a new stake in Red Hat during the second quarter worth about $222,000. Pacer Advisors Inc. increased its stake in Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock worth $246,000 after buying an additional 331 shares during the period. Finally, Wall Street Associates acquired a new stake in Red Hat during the second quarter worth about $247,000. 94.81% of the stock is owned by hedge funds and other institutional investors.
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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