HP (NYSE:HPQ – Get Free Report) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.
Several other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Citigroup upgraded HP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $31.00 to $33.00 in a research report on Monday, November 13th. Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $33.00 to $40.00 in a report on Monday. Edward Jones raised HP from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley raised their price objective on shares of HP from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.
HP Stock Performance
Shares of HPQ stock traded up $0.90 during mid-day trading on Monday, hitting $30.36. The company’s stock had a trading volume of 14,355,525 shares, compared to its average volume of 7,165,096. HP has a 52 week low of $25.22 and a 52 week high of $33.90. The company’s fifty day simple moving average is $27.47 and its 200-day simple moving average is $29.44. The company has a market cap of $30.00 billion, a PE ratio of 9.23, a P/E/G ratio of 1.75 and a beta of 1.05.
HP (NYSE:HPQ – Get Free Report) last announced its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. HP had a net margin of 6.13% and a negative return on equity of 138.83%. The business had revenue of $13.82 billion during the quarter, compared to analyst estimates of $13.79 billion. During the same quarter in the previous year, the business posted $0.85 EPS. HP’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities analysts anticipate that HP will post 3.44 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Alex Cho sold 45,758 shares of HP stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the completion of the transaction, the insider now directly owns 22,003 shares in the company, valued at $643,367.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other HP news, major shareholder Berkshire Hathaway Inc sold 3,215,554 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $25.80, for a total value of $82,961,293.20. Following the transaction, the insider now directly owns 102,519,035 shares of the company’s stock, valued at $2,644,991,103. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 45,758 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the completion of the transaction, the insider now owns 22,003 shares in the company, valued at approximately $643,367.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,559,804 shares of company stock worth $361,660,321. Company insiders own 0.32% of the company’s stock.
Institutional Investors Weigh In On HP
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. Mascoma Wealth Management LLC purchased a new stake in shares of HP in the third quarter worth $25,000. Certified Advisory Corp purchased a new stake in HP in the 1st quarter worth $26,000. Exchange Traded Concepts LLC raised its holdings in HP by 83.2% during the second quarter. Exchange Traded Concepts LLC now owns 914 shares of the computer maker’s stock valued at $28,000 after acquiring an additional 415 shares during the period. Motco lifted its position in shares of HP by 84.4% in the second quarter. Motco now owns 1,038 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 475 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of HP in the third quarter worth about $32,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
About HP
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.