News articles about Red Hat (NYSE:RHT) have trended somewhat positive on Thursday, Accern Sentiment Analysis reports. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Red Hat earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned news articles about the open-source software company an impact score of 46.1835628791962 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

These are some of the media stories that may have effected Accern Sentiment’s scoring:

A number of equities analysts have recently weighed in on the stock. Monness Crespi & Hardt reduced their price target on shares of Red Hat from $200.00 to $186.00 and set a “buy” rating on the stock in a research report on Friday, June 22nd. Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Red Hat in a research report on Tuesday, June 26th. ValuEngine cut shares of Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. BMO Capital Markets boosted their price objective on shares of Red Hat from $180.00 to $192.00 and gave the company a “market perform” rating in a research report on Tuesday, June 19th. Finally, Royal Bank of Canada cut their price objective on shares of Red Hat from $180.00 to $177.00 and set an “outperform” rating on the stock in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and an average target price of $157.83.

Shares of Red Hat opened at $135.26 on Thursday, Marketbeat.com reports. The company has a market cap of $24.03 billion, a PE ratio of 58.81, a PEG ratio of 3.30 and a beta of 1.08. Red Hat has a 1-year low of $94.50 and a 1-year high of $177.70. The company has a quick ratio of 1.36, a current ratio of 1.28 and a debt-to-equity ratio of 0.39.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Thursday, June 21st. The open-source software company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Red Hat had a net margin of 9.77% and a return on equity of 30.40%. The company had revenue of $813.53 million for the quarter, compared to analyst estimates of $807.48 million. During the same period last year, the firm earned $0.56 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. research analysts forecast that Red Hat will post 2.56 earnings per share for the current year.

Red Hat declared that its board has authorized a stock repurchase program on Thursday, June 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the open-source software company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Delisa Alexander sold 222 shares of the firm’s stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $156.19, for a total value of $34,674.18. Following the completion of the transaction, the executive vice president now directly owns 35,027 shares in the company, valued at $5,470,867.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 20,529 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $164.23, for a total transaction of $3,371,477.67. The disclosure for this sale can be found here. Insiders sold 107,376 shares of company stock valued at $17,167,724 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

Red Hat Company Profile

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.

Insider Buying and Selling by Quarter for Red Hat (NYSE:RHT)

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