Red Hat Inc (NYSE:RHT) has been assigned a consensus rating of “Hold” from the thirty-one research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $163.16.

Several equities research analysts have issued reports on RHT shares. Royal Bank of Canada lifted their price target on Red Hat to $190.00 in a research note on Monday, October 29th. Nomura dropped their price target on Red Hat from $182.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Stifel Nicolaus dropped their price target on Red Hat from $172.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Citigroup dropped their price target on Red Hat from $167.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Finally, Needham & Company LLC initiated coverage on Red Hat in a research note on Monday, October 22nd. They set a “buy” rating and a $183.00 price target for the company.

In related news, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the transaction, the executive vice president now owns 33,217 shares in the company, valued at approximately $4,153,121.51. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the transaction, the chief executive officer now owns 361,627 shares in the company, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,631 shares of company stock worth $453,984. 0.58% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Signature Financial Management Inc. grew its holdings in shares of Red Hat by 132.3% during the 2nd quarter. Signature Financial Management Inc. now owns 5,048 shares of the open-source software company’s stock worth $678,000 after acquiring an additional 2,875 shares during the period. Prospera Financial Services Inc purchased a new position in shares of Red Hat during the 3rd quarter worth approximately $367,000. Twin Capital Management Inc. purchased a new position in shares of Red Hat during the 2nd quarter worth approximately $1,956,000. Davis R M Inc. grew its holdings in shares of Red Hat by 2.4% during the 3rd quarter. Davis R M Inc. now owns 343,479 shares of the open-source software company’s stock worth $46,809,000 after acquiring an additional 8,155 shares during the period. Finally, Sigma Planning Corp grew its holdings in shares of Red Hat by 424.0% during the 2nd quarter. Sigma Planning Corp now owns 12,376 shares of the open-source software company’s stock worth $1,663,000 after acquiring an additional 10,014 shares during the period. Institutional investors own 96.03% of the company’s stock.

RHT stock traded up $0.38 during mid-day trading on Thursday, hitting $173.26. 313,046 shares of the stock were exchanged, compared to its average volume of 4,338,413. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40. Red Hat has a 12 month low of $115.31 and a 12 month high of $177.70. The firm has a market cap of $30.58 billion, a P/E ratio of 75.20, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm had revenue of $822.75 million during the quarter, compared to analyst estimates of $828.12 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. As a group, research analysts expect that Red Hat will post 2.57 EPS for the current fiscal year.

Red Hat Company Profile

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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