Red Hat (RHT) Getting Somewhat Positive News Coverage, Report Shows

Media headlines about Red Hat (NYSE:RHT) have been trending somewhat positive on Wednesday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Red Hat earned a media sentiment score of 0.24 on Accern’s scale. Accern also gave news articles about the open-source software company an impact score of 46.8120426432202 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Here are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:

Several analysts recently weighed in on RHT shares. Zacks Investment Research downgraded shares of Red Hat from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Northland Securities reiterated a “buy” rating and issued a $150.00 price objective on shares of Red Hat in a research report on Thursday, December 21st. Royal Bank of Canada lifted their price objective on shares of Red Hat from $106.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, September 20th. Wells Fargo & Co reiterated an “outperform” rating and issued a $124.00 price objective (up from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. Finally, Mizuho lifted their price objective on shares of Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. Red Hat has a consensus rating of “Buy” and an average target price of $124.25.

Red Hat (NYSE:RHT) traded up $0.36 during mid-day trading on Wednesday, hitting $124.51. 1,852,295 shares of the company’s stock were exchanged, compared to its average volume of 1,860,000. Red Hat has a one year low of $71.20 and a one year high of $130.93. The company has a market cap of $22,030.00, a P/E ratio of 67.67, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company had revenue of $747.98 million for the quarter, compared to the consensus estimate of $734.69 million. During the same period in the previous year, the firm earned $0.61 EPS. Red Hat’s revenue was up 21.6% on a year-over-year basis. sell-side analysts anticipate that Red Hat will post 2.08 EPS for the current year.

In related news, CEO James M. Whitehurst sold 4,211 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $506,835.96. Following the sale, the chief executive officer now directly owns 380,158 shares in the company, valued at approximately $45,755,816.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of 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 sold a total of 8,172 shares of company stock worth $985,517 over the last quarter. Insiders own 0.66% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Red Hat (NYSE:RHT)

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