Red Hat (NYSE:RHT) had its price target lifted by Barclays from $160.00 to $166.00 in a research note published on Friday. The brokerage currently has an overweight rating on the open-source software company’s stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James cut shares of Red Hat from an outperform rating to a market perform rating and set a $84.00 target price on the stock. in a research note on Tuesday, June 19th. Zacks Investment Research cut shares of Red Hat from a strong-buy rating to a hold rating in a research note on Wednesday, May 30th. ValuEngine cut shares of Red Hat from a strong-buy rating to a buy rating in a research note on Friday, June 22nd. Monness Crespi & Hardt upped their target price on shares of Red Hat from $175.00 to $200.00 and gave the company a buy rating in a research note on Monday, May 14th. Finally, BMO Capital Markets upped their target price on shares of Red Hat from $180.00 to $192.00 and gave the company a market perform rating in a research note on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company. Red Hat has an average rating of Buy and a consensus price target of $158.03.

RHT stock traded up $2.09 during trading on Friday, hitting $148.02. 1,047,961 shares of the stock traded hands, compared to its average volume of 1,316,135. Red Hat has a 1 year low of $104.51 and a 1 year high of $177.70. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 64.36, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.28.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Thursday, June 21st. The open-source software company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.03. The company had revenue of $813.53 million for the quarter, compared to the consensus estimate of $807.48 million. Red Hat had a net margin of 9.77% and a return on equity of 30.40%. Red Hat’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. research analysts predict that Red Hat will post 2.56 earnings per share for the current fiscal year.

Red Hat declared that its Board of Directors has authorized a stock buyback program on Thursday, June 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the open-source software company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Michael A. Kelly sold 636 shares of the stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $145.00, for a total value of $92,220.00. Following the transaction, the insider now owns 5,965 shares in the company, valued at approximately $864,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Whitehurst sold 9,513 shares of the stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $145.00, for a total transaction of $1,379,385.00. Following the completion of the transaction, the chief executive officer now owns 374,286 shares in the company, valued at approximately $54,271,470. The disclosure for this sale can be found here. Insiders sold a total of 56,926 shares of company stock worth $8,145,758 in the last quarter. Company insiders own 0.58% of the company’s stock.

Several large investors have recently modified their holdings of RHT. Daiwa Securities Group Inc. raised its stake in Red Hat by 30.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,027 shares of the open-source software company’s stock worth $1,051,000 after acquiring an additional 1,639 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Red Hat by 64.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,314 shares of the open-source software company’s stock worth $2,839,000 after acquiring an additional 7,183 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Red Hat by 63.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 88,042 shares of the open-source software company’s stock worth $13,163,000 after acquiring an additional 34,336 shares during the period. D.A. Davidson & CO. bought a new stake in Red Hat during the 1st quarter worth approximately $253,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Red Hat during the 1st quarter worth approximately $400,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

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.

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Analyst Recommendations for Red Hat (NYSE:RHT)

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