Red Hat Inc. (NYSE:RHT)‘s stock had its “buy” rating reaffirmed by investment analysts at Drexel Hamilton in a research note issued to investors on Friday. They presently have a $110.00 target price on the open-source software company’s stock, up from their prior target price of $105.00. Drexel Hamilton’s price target indicates a potential upside of 39.01% from the company’s previous close.
RHT has been the subject of a number of other reports. Robert W. Baird upped their price objective on shares of Red Hat from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 price objective (down from $88.00) on shares of Red Hat in a research note on Thursday, June 23rd. Mizuho reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. set a $88.00 price objective on shares of Red Hat and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $88.87.
Shares of Red Hat (NYSE:RHT) traded down 1.11% during mid-day trading on Friday, hitting $79.13. 2,642,095 shares of the stock were exchanged. The stock’s 50 day moving average is $74.23 and its 200-day moving average is $74.16. Red Hat has a 12 month low of $59.59 and a 12 month high of $84.44. The stock has a market cap of $14.27 billion, a PE ratio of 66.55 and a beta of 1.32.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Red Hat had a net margin of 9.84% and a return on equity of 18.85%. The company earned $599.80 million during the quarter. During the same period last year, the company earned $0.47 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. On average, analysts anticipate that Red Hat will post $2.24 EPS for the current year.
In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $73.14, for a total value of $731,400.00. Following the completion of the sale, the executive vice president now directly owns 64,800 shares of the company’s stock, valued at $4,739,472. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Red Hat during the second quarter worth about $532,000. Kentucky Retirement Systems acquired a new stake in shares of Red Hat during the second quarter worth about $1,120,000. Nomura Holdings Inc. increased its stake in shares of Red Hat by 21.6% in the second quarter. Nomura Holdings Inc. now owns 171,951 shares of the open-source software company’s stock worth $12,480,000 after buying an additional 30,498 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Red Hat during the second quarter worth about $1,774,000. Finally, Braun Stacey Associates Inc. increased its stake in shares of Red Hat by 8.5% in the second quarter. Braun Stacey Associates Inc. now owns 172,240 shares of the open-source software company’s stock worth $12,505,000 after buying an additional 13,535 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.