Shares of Red Hat Inc (NYSE:RHT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $185.16 and last traded at $185.05, with a volume of 50420 shares trading hands. The stock had previously closed at $184.22.
Separately, ValuEngine downgraded shares of Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $168.33.
The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $32.75 billion, a PE ratio of 66.29, a P/E/G ratio of 4.04 and a beta of 0.52.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $879.00 million for the quarter, compared to the consensus estimate of $885.64 million. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Red Hat Inc will post 3.04 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of RHT. Vanguard Group Inc raised its stake in Red Hat by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after acquiring an additional 103,057 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Red Hat by 11,583.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock worth $57,000 after acquiring an additional 10,009,030 shares during the period. Geode Capital Management LLC raised its stake in Red Hat by 18.5% during the 1st quarter. Geode Capital Management LLC now owns 2,883,439 shares of the open-source software company’s stock worth $526,029,000 after acquiring an additional 449,597 shares during the period. Norges Bank bought a new stake in Red Hat during the 4th quarter worth approximately $297,683,000. Finally, FIL Ltd raised its stake in Red Hat by 65.3% during the 1st quarter. FIL Ltd now owns 1,152,383 shares of the open-source software company’s stock worth $210,540,000 after acquiring an additional 455,158 shares during the period. 89.25% of the stock is currently owned by institutional investors.
Red Hat Company Profile (NYSE:RHT)
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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