RHT has been the subject of a number of other research reports. Deutsche Bank AG upped their price objective on shares of Red Hat from $100.00 to $110.00 and gave the stock a buy rating in a research report on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated an outperform rating and set a $96.00 price objective (up previously from $94.00) on shares of Red Hat in a research report on Wednesday, May 10th. Mizuho cut their price objective on shares of Red Hat from $109.00 to $96.00 and set a buy rating for the company in a research report on Wednesday, June 21st. Drexel Hamilton upped their price objective on shares of Red Hat to $110.00 in a research report on Tuesday, March 28th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $83.00 price target (up from $70.00) on shares of Red Hat in a research note on Tuesday, March 28th. Nine research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $99.02.
Shares of Red Hat (NYSE:RHT) traded down 0.75% during mid-day trading on Thursday, hitting $97.45. 602,152 shares of the stock traded hands. Red Hat has a 12-month low of $68.54 and a 12-month high of $98.14. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 66.75 and a beta of 1.30. The firm’s 50 day moving average price is $88.93 and its 200 day moving average price is $82.49.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The company had revenue of $677 million during the quarter, compared to the consensus estimate of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. Red Hat’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities research analysts predict that Red Hat will post $2.68 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Red Hat, Inc. (RHT) Earns Hold Rating from Jefferies Group LLC” was originally published by sleekmoney and is owned by of sleekmoney. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://sleekmoney.com/red-hat-inc-rht-earns-hold-rating-from-jefferies-group-llc/1943799.html.
In other news, EVP Delisa Alexander sold 311 shares of the stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $85.75, for a total transaction of $26,668.25. Following the transaction, the executive vice president now directly owns 37,373 shares in the company, valued at approximately $3,204,734.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $86.56, for a total transaction of $1,038,720.00. Following the transaction, the chief executive officer now owns 405,072 shares in the company, valued at $35,063,032.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,336 shares of company stock worth $25,558,492. Insiders own 0.66% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Columbia Partners L L C Investment Management bought a new position in shares of Red Hat during the first quarter valued at $1,274,000. Achmea Investment Management B.V. bought a new position in shares of Red Hat during the first quarter valued at $249,000. Bank of Nova Scotia raised its position in shares of Red Hat by 933.1% in the first quarter. Bank of Nova Scotia now owns 40,849 shares of the open-source software company’s stock valued at $3,533,000 after buying an additional 36,895 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of Red Hat during the first quarter valued at $170,000. Finally, FNY Partners Fund LP bought a new position in shares of Red Hat during the first quarter valued at $389,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
Red Hat Company Profile
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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/red-hat-inc-rht-earns-hold-rating-from-jefferies-group-llc/1943799.html
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.