HP (NYSE:HPQ – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of HP from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $35.00 in a research report on Monday, April 17th. UBS Group boosted their price objective on HP from $30.00 to $31.00 in a report on Wednesday, May 31st. Bank of America lifted their target price on shares of HP from $26.00 to $27.00 in a research report on Wednesday, May 31st. Morgan Stanley upgraded shares of HP from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $28.00 to $31.00 in a research report on Monday, May 1st. Finally, 58.com reissued a “maintains” rating on shares of HP in a research note on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.88.
HP Price Performance
Shares of HPQ stock opened at $32.79 on Wednesday. HP has a 1 year low of $24.08 and a 1 year high of $35.32. The company’s fifty day simple moving average is $30.64 and its two-hundred day simple moving average is $29.59. The stock has a market capitalization of $32.33 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 2.45 and a beta of 1.00.
HP (NYSE:HPQ – Get Free Report) last posted its earnings results on Tuesday, May 30th. The computer maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. HP had a negative return on equity of 121.57% and a net margin of 4.75%. The business had revenue of $12.91 billion during the quarter, compared to analyst estimates of $13.07 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. Equities research analysts anticipate that HP will post 3.35 EPS for the current year.
Insider Activity at HP
In other HP news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $29.31, for a total transaction of $122,076.15. Following the transaction, the chief financial officer now directly owns 34,776 shares of the company’s stock, valued at approximately $1,019,284.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Subra Suresh sold 6,659 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $33.00, for a total value of $219,747.00. Following the sale, the director now directly owns 59,533 shares of the company’s stock, valued at $1,964,589. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Marie Myers sold 4,165 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $29.31, for a total value of $122,076.15. Following the transaction, the chief financial officer now directly owns 34,776 shares of the company’s stock, valued at approximately $1,019,284.56. The disclosure for this sale can be found here. Insiders sold a total of 198,620 shares of company stock worth $6,097,594 over the last quarter. 0.32% of the stock is owned by corporate insiders.
Institutional Trading of HP
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Romano Brothers AND Company bought a new position in HP in the 4th quarter worth about $171,000. Applied Capital LLC FL bought a new stake in shares of HP during the fourth quarter valued at approximately $650,000. NorthRock Partners LLC purchased a new position in HP in the 4th quarter worth approximately $246,000. Ontario Teachers Pension Plan Board purchased a new stake in HP during the 4th quarter valued at $432,000. Finally, Nordea Investment Management AB increased its holdings in shares of HP by 10.2% in the 4th quarter. Nordea Investment Management AB now owns 1,512,391 shares of the computer maker’s stock worth $40,426,000 after purchasing an additional 139,904 shares in the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.