Shares of Red Hat Inc (NYSE:RHT) have received an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $179.14.

A number of research firms have weighed in on RHT. William Blair downgraded Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 target price on the stock. in a report on Friday, June 21st. Robert W. Baird restated a “not rated” rating on shares of Red Hat in a research report on Thursday, July 11th.

RHT stock remained flat at $$187.71 during trading on Friday. The company’s stock had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. Red Hat has a 52 week low of $115.31 and a 52 week high of $189.14. The business has a 50 day simple moving average of $187.74. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $33.43 billion, a P/E ratio of 67.28, a price-to-earnings-growth ratio of 3.98 and a beta of 0.45.

Red Hat (NYSE:RHT) last posted its earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. Red Hat had a return on equity of 36.67% and a net margin of 13.26%. The company had revenue of $934.10 million for the quarter, compared to the consensus estimate of $931.58 million. During the same quarter in the prior year, the company earned $0.72 earnings per share. Red Hat’s revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Red Hat will post 3.14 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Doyle Wealth Management bought a new position in Red Hat during the second quarter valued at approximately $28,000. Advisory Alpha LLC bought a new stake in shares of Red Hat in the 1st quarter valued at approximately $32,000. Glassman Wealth Services lifted its stake in shares of Red Hat by 58.0% in the 1st quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Red Hat by 26.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock valued at $54,000 after purchasing an additional 62 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in shares of Red Hat by 47.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 369 shares of the open-source software company’s stock valued at $68,000 after purchasing an additional 118 shares during the last quarter. 85.75% of the stock is owned by 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.

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Analyst Recommendations for Red Hat (NYSE:RHT)

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