Red Hat (RHT) Rating Reiterated by Robert W. Baird

Red Hat (NYSE:RHT)‘s stock had its “neutral” rating restated by investment analysts at Robert W. Baird in a research note issued to investors on Thursday.

A number of other analysts also recently commented on the company. OTR Global downgraded Red Hat to a “positive” rating in a research report on Thursday, September 13th. JPMorgan Chase & Co. downgraded Red Hat from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $160.00 to $150.00 in a research report on Tuesday, September 18th. Jefferies Financial Group decreased their price target on Red Hat from $154.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Royal Bank of Canada reduced their price objective on Red Hat to $169.00 and set an “outperform” rating for the company in a report on Monday, September 17th. Finally, KeyCorp reduced their price objective on Red Hat from $184.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $156.07.

Shares of RHT opened at $120.12 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $21.97 billion, a P/E ratio of 52.23, a price-to-earnings-growth ratio of 3.24 and a beta of 1.14. Red Hat has a 12 month low of $116.31 and a 12 month high of $177.70.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. The company had revenue of $822.75 million during the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. Red Hat’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. On average, equities research analysts predict that Red Hat will post 2.57 EPS for the current year.

In other news, CEO James M. Whitehurst sold 2,513 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the transaction, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at $45,214,223.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Delisa Alexander sold 960 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the completion of the transaction, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at $4,153,121.51. The disclosure for this sale can be found here. Insiders sold 48,103 shares of company stock valued at $6,793,912 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors have recently bought and sold shares of RHT. Mount Yale Investment Advisors LLC bought a new position in shares of Red Hat in the first quarter worth $103,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Red Hat by 16,350.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after acquiring an additional 981 shares during the period. Quad Cities Investment Group LLC bought a new position in shares of Red Hat in the second quarter worth $134,000. Summit Trail Advisors LLC boosted its holdings in shares of Red Hat by 17,117.4% in the first quarter. Summit Trail Advisors LLC now owns 137,395 shares of the open-source software company’s stock worth $137,000 after acquiring an additional 136,597 shares during the period. Finally, Financial Architects Inc boosted its holdings in shares of Red Hat by 95.2% in the second quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock worth $137,000 after acquiring an additional 500 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

Featured Article: Marijuana Stocks

Analyst Recommendations for Red Hat (NYSE:RHT)

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.

Leave a Reply