HP Inc. (NYSE:HPQ) had its price target boosted by analysts at Loop Capital from $23.00 to $25.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the computer maker’s stock. Loop Capital’s target price points to a potential upside of 15.15% from the company’s previous close.
Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price target on shares of HP in a report on Thursday, August 24th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of HP in a report on Thursday, August 24th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.27.
HP (HPQ) traded up 6.42% during midday trading on Friday, hitting $21.71. The stock had a trading volume of 27,016,737 shares. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 15.78 and a beta of 1.94. HP has a 1-year low of $13.77 and a 1-year high of $22.00. The company has a 50-day moving average of $19.79 and a 200-day moving average of $18.80.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. Equities research analysts forecast that HP will post $1.65 EPS for the current year.
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In other news, insider Marie Myers sold 11,752 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total transaction of $226,226.00. Following the transaction, the insider now owns 11,752 shares of the company’s stock, valued at approximately $226,226. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy S. Keogh sold 265,600 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the transaction, the insider now directly owns 165,952 shares in the company, valued at approximately $3,302,444.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,127,206 shares of company stock worth $41,757,043 in the last three months. Insiders own 0.62% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HPQ. Parallel Advisors LLC lifted its position in HP by 0.4% in the 1st quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after acquiring an additional 41 shares in the last quarter. Montecito Bank & Trust lifted its position in HP by 0.3% in the 2nd quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock valued at $303,000 after acquiring an additional 60 shares in the last quarter. D.A. Davidson & CO. lifted its position in HP by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock valued at $132,000 after acquiring an additional 85 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in HP by 0.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 17,435 shares of the computer maker’s stock valued at $305,000 after acquiring an additional 127 shares in the last quarter. Finally, Advisor Partners LLC lifted its position in HP by 0.4% in the 2nd quarter. Advisor Partners LLC now owns 43,215 shares of the computer maker’s stock valued at $755,000 after acquiring an additional 158 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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