Red Hat (NYSE:RHT) had its price objective increased by Royal Bank of Canada to $160.00 in a report released on Wednesday. They currently have an outperform rating on the open-source software company’s stock.
Other research analysts have also recently issued research reports about the company. KeyCorp restated an overweight rating and issued a $135.00 price target (up previously from $125.00) on shares of Red Hat in a research note on Monday, December 4th. Zacks Investment Research upgraded Red Hat from a hold rating to a buy rating and set a $140.00 price target for the company in a research note on Tuesday, December 5th. Cowen restated a buy rating and issued a $136.00 price target on shares of Red Hat in a research note on Monday, December 11th. Mizuho boosted their price target on Red Hat from $125.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday, December 13th. Finally, Barclays restated a buy rating and issued a $145.00 price target on shares of Red Hat in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $131.78.
RHT stock opened at $147.90 on Wednesday. The stock has a market capitalization of $26,178.89, a price-to-earnings ratio of 76.24, a price-to-earnings-growth ratio of 3.92 and a beta of 1.06. Red Hat has a one year low of $81.92 and a one year high of $157.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37.
Large investors have recently added to or reduced their stakes in the business. We Are One Seven LLC bought a new stake in Red Hat during the fourth quarter valued at about $105,000. Zions Bancorporation bought a new stake in Red Hat during the third quarter valued at about $164,000. Avestar Capital LLC bought a new stake in Red Hat during the fourth quarter valued at about $168,000. Calton & Associates Inc. bought a new stake in Red Hat during the fourth quarter valued at about $189,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in Red Hat during the fourth quarter valued at about $193,000. 95.71% of the stock is owned by institutional investors and hedge funds.
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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.
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