HP (NYSE:HPQ – Get Rating) had its target price cut by equities research analysts at Morgan Stanley from $31.00 to $30.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “underweight” rating on the computer maker’s stock. Morgan Stanley’s target price would indicate a potential downside of 12.99% from the company’s current price.
A number of other brokerages have also weighed in on HPQ. Citigroup increased their price target on HP from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 1st. Barclays increased their price target on HP from $29.00 to $32.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 1st. StockNews.com lowered HP from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. cut their target price on HP from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, HP has an average rating of “Hold” and an average target price of $37.08.
HP Stock Performance
HPQ stock traded up $0.50 on Thursday, reaching $34.48. The company had a trading volume of 85,006 shares, compared to its average volume of 6,796,575. HP has a 1 year low of $26.11 and a 1 year high of $41.47. The company’s fifty day moving average is $33.79 and its 200 day moving average is $35.81. The company has a market cap of $35.66 billion, a P/E ratio of 6.22, a PEG ratio of 1.89 and a beta of 0.92.
HP (NYSE:HPQ – Get Rating) last posted its earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The firm had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the prior year, the company earned $0.93 EPS. HP’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that HP will post 4.3 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the transaction, the chief financial officer now directly owns 13,500 shares in the company, valued at $446,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the sale, the chief executive officer now owns 551,204 shares of the company’s stock, valued at $18,007,834.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marie Myers sold 4,500 shares of HP stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the sale, the chief financial officer now directly owns 13,500 shares in the company, valued at approximately $446,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,719 shares of company stock worth $1,828,345. Corporate insiders own 0.22% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in HPQ. BlackRock Inc. grew its position in HP by 0.6% in the first quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock worth $3,673,596,000 after buying an additional 573,468 shares during the last quarter. State Street Corp grew its position in HP by 1.7% during the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock worth $2,115,148,000 after purchasing an additional 980,653 shares in the last quarter. Geode Capital Management LLC grew its position in HP by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 22,903,476 shares of the computer maker’s stock worth $861,205,000 after purchasing an additional 177,208 shares in the last quarter. Dimensional Fund Advisors LP grew its position in HP by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock worth $486,668,000 after purchasing an additional 59,904 shares in the last quarter. Finally, Norges Bank purchased a new position in HP during the 4th quarter worth approximately $454,451,000. Institutional investors and hedge funds own 81.94% of the company’s stock.
HP Company Profile
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.