Red Hat (NYSE:RHT) had its target price boosted by analysts at BMO Capital Markets from $128.00 to $142.00 in a research report issued to clients and investors on Wednesday, December 20th, Marketbeat reports. The firm presently has a “market perform” rating on the open-source software company’s stock. BMO Capital Markets’ target price indicates a potential upside of 17.32% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price target on shares of Red Hat in a research note on Wednesday, September 20th. Drexel Hamilton reiterated a “buy” rating and issued a $127.00 price target on shares of Red Hat in a research note on Tuesday, September 19th. Moffett Nathanson initiated coverage on Red Hat in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, Mizuho reiterated a “buy” rating and issued a $125.00 price target (up from $109.00) on shares of Red Hat in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $124.25.
Red Hat (NYSE RHT) traded up $0.94 during trading hours on Wednesday, reaching $121.04. The company had a trading volume of 2,360,000 shares, compared to its average volume of 1,780,000. The firm has a market capitalization of $21,420.00, a P/E ratio of 65.78, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19. Red Hat has a fifty-two week low of $68.95 and a fifty-two week high of $130.93. The company has a quick ratio of 1.30, a current ratio of 1.37 and a debt-to-equity ratio of 0.53.
In other news, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 4,211 shares of Red Hat stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $506,835.96. Following the sale, the chief executive officer now directly owns 380,158 shares in the company, valued at approximately $45,755,816.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,172 shares of company stock worth $2,592,577. Corporate insiders own 0.66% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its holdings in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in Red Hat during the second quarter worth approximately $112,000. Sun Life Financial INC raised its holdings in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after purchasing an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. bought a new stake in Red Hat during the second quarter worth approximately $135,000. Finally, Global X Management Co. LLC raised its holdings in Red Hat by 91.3% during the second quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after purchasing an additional 736 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.
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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.
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