Red Hat (NYSE:RHT)‘s stock had its “buy” rating reiterated by analysts at Citigroup in a note issued to investors on Wednesday. They presently have a $148.00 target price on the open-source software company’s stock. Citigroup’s price objective suggests a potential upside of 17.34% from the company’s current price.

A number of other research firms also recently issued reports on RHT. Cowen reaffirmed a “buy” rating and set a $136.00 price objective on shares of Red Hat in a report on Monday. Mizuho lifted their price objective on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reissued a “buy” rating and issued a $145.00 price target on shares of Red Hat in a research note on Wednesday. KeyCorp reissued an “overweight” rating and issued a $135.00 price target (up from $125.00) on shares of Red Hat in a research note on Monday, December 4th. Finally, Bank of America reissued an “underperform” rating and issued a $115.00 price target on shares of Red Hat in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average price target of $115.74.

Shares of Red Hat (NYSE:RHT) opened at $126.13 on Wednesday. Red Hat has a fifty-two week low of $68.54 and a fifty-two week high of $129.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The stock has a market cap of $22,419.72, a price-to-earnings ratio of 69.09, a PEG ratio of 4.00 and a beta of 1.19.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. research analysts predict that Red Hat will post 2 earnings per share for the current fiscal year.

In other news, insider Michael A. Kelly sold 2,888 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 1,073 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now owns 38,150 shares in the company, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,172 shares of company stock worth $3,926,377. Corporate insiders own 0.66% of the company’s stock.

A number of institutional investors have recently modified their holdings of RHT. FMR LLC lifted its position in Red Hat by 10.8% during the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after purchasing an additional 1,085,953 shares during the period. Swedbank bought a new position in Red Hat during the third quarter valued at approximately $115,424,000. American Century Companies Inc. raised its position in Red Hat by 6,697.1% in the third quarter. American Century Companies Inc. now owns 953,634 shares of the open-source software company’s stock worth $105,720,000 after acquiring an additional 939,604 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Red Hat by 282.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock worth $112,718,000 after acquiring an additional 869,550 shares during the period. Finally, Northern Trust Corp raised its position in Red Hat by 28.8% in the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after acquiring an additional 848,777 shares during the period. Institutional investors own 93.85% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Citigroup Reiterates “Buy” Rating for Red Hat (RHT)” was reported by Daily Political and is owned by of Daily Political. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://www.dailypolitical.com/2017/12/15/citigroup-reiterates-buy-rating-for-red-hat-rht.html.

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.

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.