Vetr upgraded shares of Red Hat, Inc. (NYSE:RHT) from a buy rating to a strong-buy rating in a research report released on Tuesday. They currently have $81.50 price objective on the open-source software company’s stock.

RHT has been the subject of several other reports. Rosenblatt Securities reiterated a buy rating and issued a $95.00 target price on shares of Red Hat in a research report on Monday, December 26th. Oppenheimer Holdings, Inc. set a $88.00 target price on Red Hat and gave the company a buy rating in a research report on Thursday, September 22nd. JMP Securities reiterated an outperform rating and issued a $93.00 target price (down from $97.00) on shares of Red Hat in a research report on Friday, December 23rd. Stifel Nicolaus downgraded Red Hat from a buy rating to a hold rating and dropped their target price for the company from $87.00 to $70.00 in a research report on Thursday, December 22nd. Finally, Jefferies Group dropped their target price on Red Hat from $79.00 to $76.00 and set a hold rating for the company in a research report on Thursday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $86.42.

Analyst Recommendations for Red Hat (NYSE:RHT)

Red Hat (NYSE:RHT) opened at 73.03 on Tuesday. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 55.75 and a beta of 1.47. The company has a 50 day moving average price of $75.64 and a 200 day moving average price of $75.46. Red Hat has a 12 month low of $59.59 and a 12 month high of $82.73.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Wednesday, December 21st. The open-source software company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $615 million for the quarter. Red Hat had a return on equity of 20.57% and a net margin of 10.36%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. Analysts anticipate that Red Hat will post $2.27 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Red Hat, Inc. (RHT) Upgraded at Vetr Inc.” was published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be viewed at http://www.dailypolitical.com/2017/01/13/red-hat-inc-rht-upgraded-at-vetr-inc.html.

In other Red Hat news, EVP Delisa Alexander sold 1,121 shares of the business’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $77.00, for a total value of $86,317.00. Following the sale, the executive vice president now directly owns 57,356 shares in the company, valued at $4,416,412. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.76% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Red Hat by 24.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 20,244,633 shares of the open-source software company’s stock valued at $1,636,374,000 after buying an additional 3,954,374 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Red Hat by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,090,395 shares of the open-source software company’s stock valued at $1,168,163,000 after buying an additional 217,476 shares during the last quarter. FMR LLC raised its stake in Red Hat by 5.1% in the second quarter. FMR LLC now owns 11,463,375 shares of the open-source software company’s stock worth $832,240,000 after buying an additional 558,296 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Red Hat by 16.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,407,019 shares of the open-source software company’s stock worth $437,049,000 after buying an additional 753,192 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Red Hat by 4.8% in the third quarter. Northern Trust Corp now owns 3,395,656 shares of the open-source software company’s stock worth $274,471,000 after buying an additional 156,505 shares during the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.

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.

5 Day Chart for NYSE:RHT

To view Vetr’s full report, visit Vetr’s official website.

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.