Red Hat Inc (NYSE:RHT) has earned an average recommendation of “Hold” from the twenty-nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $165.71.

RHT has been the subject of several recent analyst reports. Monness Crespi & Hardt reissued a “buy” rating and set a $190.00 target price (up previously from $186.00) on shares of Red Hat in a research note on Monday, December 10th. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research note on Monday, December 31st.

RHT stock opened at $181.78 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.23. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 79.03, a price-to-earnings-growth ratio of 4.02 and a beta of 0.55. Red Hat has a 52-week low of $115.31 and a 52-week high of $183.54.

Red Hat (NYSE:RHT) last posted its earnings results on Monday, December 17th. The open-source software company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. The company had revenue of $847.00 million during the quarter, compared to analysts’ expectations of $852.79 million. Red Hat had a return on equity of 33.96% and a net margin of 8.66%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. As a group, equities research analysts anticipate that Red Hat will post 2.63 earnings per share for the current fiscal year.

In other news, EVP Michael Cunningham sold 25,000 shares of Red Hat stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $178.79, for a total value of $4,469,750.00. Following the completion of the sale, the executive vice president now directly owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Red Hat by 11,583.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock valued at $57,000 after purchasing an additional 10,009,030 shares during the period. Norges Bank purchased a new position in Red Hat in the fourth quarter valued at $297,683,000. Neuberger Berman Group LLC boosted its holdings in Red Hat by 761.5% in the third quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock valued at $137,752,000 after purchasing an additional 893,465 shares during the period. Alpine Associates Management Inc. purchased a new position in Red Hat in the fourth quarter valued at $112,183,000. Finally, Glenmede Trust Co. NA boosted its holdings in Red Hat by 148.8% in the third quarter. Glenmede Trust Co. NA now owns 843,945 shares of the open-source software company’s stock valued at $115,012,000 after purchasing an additional 504,787 shares during the period. 88.56% of the stock is owned by institutional investors and hedge funds.

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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