Red Hat Inc (NYSE:RHT) has been assigned an average rating of “Hold” from the thirty-one brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $164.50.

A number of brokerages recently weighed in on RHT. Citigroup cut Red Hat from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $163.00 to $190.00 in a research note on Tuesday, October 30th. Needham & Company LLC cut Red Hat from a “buy” rating to a “hold” rating in a research note on Monday, November 5th. ValuEngine raised Red Hat from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 29th. Credit Suisse Group set a $190.00 price target on Red Hat and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Royal Bank of Canada lifted their price target on Red Hat to $190.00 in a research note on Monday, October 29th.

A number of hedge funds and other institutional investors have recently made changes to their positions in RHT. Neuberger Berman Group LLC boosted its position in Red Hat by 761.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock worth $137,752,000 after acquiring an additional 893,465 shares during the period. Glenmede Trust Co. NA boosted its position in Red Hat by 148.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 843,945 shares of the open-source software company’s stock worth $115,012,000 after acquiring an additional 504,787 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Red Hat by 3,281.3% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 421,884 shares of the open-source software company’s stock worth $57,494,000 after acquiring an additional 409,407 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in 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 worth $74,695,000 after acquiring an additional 319,760 shares during the period. Finally, Partner Fund Management L.P. boosted its position in Red Hat by 182.2% during the 3rd quarter. Partner Fund Management L.P. now owns 388,407 shares of the open-source software company’s stock worth $52,932,000 after acquiring an additional 250,773 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

NYSE:RHT traded up $0.10 during mid-day trading on Tuesday, reaching $176.20. 1,148,685 shares of the stock were exchanged, compared to its average volume of 2,140,053. The firm has a market cap of $31.20 billion, a P/E ratio of 76.61, a PEG ratio of 4.54 and a beta of 0.60. Red Hat has a 1-year low of $115.31 and a 1-year high of $179.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.23.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, December 17th. The open-source software company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The firm had revenue of $847.00 million for 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%. Red Hat’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. Sell-side analysts expect that Red Hat will post 2.59 EPS for the current year.

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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