Red Hat Inc. (NYSE:RHT) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They currently have a $88.40 price objective on the open-source software company’s stock. Vetr‘s price target points to a potential upside of 11.74% from the company’s current price.

A number of other equities research analysts have also commented on RHT. Deutsche Bank AG restated a “buy” rating and set a $95.00 price objective on shares of Red Hat in a report on Saturday, August 13th. Mizuho restated a “buy” rating and set a $88.00 price objective on shares of Red Hat in a report on Wednesday, September 14th. Barclays PLC restated a “buy” rating and set a $90.00 price objective on shares of Red Hat in a report on Thursday, September 15th. BMO Capital Markets raised their price objective on shares of Red Hat from $85.00 to $89.00 and gave the stock an “outperform” rating in a report on Thursday, September 22nd. Finally, Jefferies Group restated a “hold” rating and set a $79.00 price objective (up from $75.00) on shares of Red Hat in a report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $89.55.

Analyst Recommendations for Red Hat (NYSE:RHT)

Red Hat (NYSE:RHT) opened at 79.11 on Tuesday. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 66.53 and a beta of 1.51. The firm’s 50-day moving average is $77.36 and its 200-day moving average is $75.75. Red Hat has a 52-week low of $59.59 and a 52-week high of $84.44.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. The business had revenue of $599.80 million for the quarter. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. Analysts forecast that Red Hat will post $2.24 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was first reported by Financial Market News and is owned by of Financial Market News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this piece can be viewed at http://www.financial-market-news.com/red-hat-inc-rht-rating-lowered-to-buy-at-vetr-inc/1211819/.

In related news, Director General Henry Hugh Shelton sold 15,000 shares of Red Hat stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $80.70, for a total transaction of $1,210,500.00. Following the sale, the director now directly owns 9,026 shares of the company’s stock, valued at approximately $728,398.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 1,121 shares of Red Hat stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $77.00, for a total transaction of $86,317.00. Following the sale, the executive vice president now directly owns 57,356 shares in the company, valued at $4,416,412. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Davis R M Inc. raised its stake in shares of Red Hat by 11.1% in the second quarter. Davis R M Inc. now owns 383,649 shares of the open-source software company’s stock valued at $27,853,000 after buying an additional 38,418 shares during the period. Gofen & Glossberg LLC IL bought a new stake in shares of Red Hat during the second quarter valued at about $2,969,000. Capstone Asset Management Co. raised its stake in shares of Red Hat by 13.4% in the second quarter. Capstone Asset Management Co. now owns 23,100 shares of the open-source software company’s stock valued at $1,677,000 after buying an additional 2,735 shares during the period. First Financial Corp IN raised its stake in shares of Red Hat by 1,309.6% in the second quarter. First Financial Corp IN now owns 11,488 shares of the open-source software company’s stock valued at $834,000 after buying an additional 10,673 shares during the period. Finally, First Western Capital Management Co bought a new stake in shares of Red Hat during the second quarter valued at about $937,000. 94.49% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:RHT

To view Vetr’s full report, visit Vetr’s official website.

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.