Red Hat (RHT) Given a $190.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $190.00 price objective on Red Hat (NYSE:RHT) in a research note released on Monday, MarketBeat.com reports. The firm currently has a hold rating on the open-source software company’s stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Red Hat to $169.00 and set an outperform rating on the stock in a report on Monday, September 17th. Oppenheimer dropped their target price on shares of Red Hat from $175.00 to $165.00 and set an outperform rating on the stock in a report on Friday, September 21st. OTR Global downgraded shares of Red Hat to a positive rating in a report on Thursday, September 13th. ValuEngine downgraded shares of Red Hat from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, JPMorgan Chase & Co. downgraded shares of Red Hat from an overweight rating to a neutral rating and dropped their target price for the stock from $160.00 to $150.00 in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $163.48.

Red Hat stock opened at $171.64 on Monday. The firm has a market cap of $20.53 billion, a PE ratio of 74.63, a price-to-earnings-growth ratio of 4.41 and a beta of 1.14. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. Red Hat has a 1-year low of $115.31 and a 1-year high of $177.70.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. Red Hat’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. On average, research analysts expect that Red Hat will post 2.57 EPS for the current year.

In other Red Hat news, CEO James M. Whitehurst sold 44,472 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $142.56, for a total value of $6,339,928.32. Following the sale, the chief executive officer now directly owns 445,557 shares in the company, valued at approximately $63,518,605.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $314,200.39. Following the completion of the sale, the chief executive officer now owns 361,627 shares in the company, valued at $45,214,223.81. The disclosure for this sale can be found here. Insiders sold a total of 48,103 shares of company stock worth $6,793,912 over the last 90 days. Company insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moody National Bank Trust Division boosted its position in shares of Red Hat by 816.8% during the 3rd quarter. Moody National Bank Trust Division now owns 44,970 shares of the open-source software company’s stock valued at $6,128,000 after acquiring an additional 40,065 shares in the last quarter. First National Trust Co boosted its position in shares of Red Hat by 53.3% during the 3rd quarter. First National Trust Co now owns 16,719 shares of the open-source software company’s stock valued at $2,279,000 after acquiring an additional 5,814 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Red Hat by 140.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 548,095 shares of the open-source software company’s stock valued at $74,695,000 after acquiring an additional 319,760 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Red Hat by 1.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 86,406 shares of the open-source software company’s stock valued at $11,775,000 after acquiring an additional 973 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of Red Hat by 9.7% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 67,684 shares of the open-source software company’s stock valued at $9,224,000 after acquiring an additional 5,973 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

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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