Red Hat, Inc. (RHT) Upgraded at Vetr Inc.
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.
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.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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