Jefferies Group LLC Reaffirms Hold Rating for HP Inc. (HPQ)
HP Inc. (NYSE:HPQ)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They currently have a $20.00 price objective on the computer maker’s stock, up from their prior price objective of $19.00. Jefferies Group LLC’s price objective would indicate a potential upside of 3.31% from the company’s current price.
Other research analysts have also issued research reports about the company. Bank of America Corporation lifted their target price on HP from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a report on Thursday, May 25th. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $22.00 in a report on Thursday, July 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 target price on shares of HP in a report on Thursday, August 24th. Finally, Citigroup Inc. set a $20.00 target price on HP and gave the company a “buy” rating in a report on Thursday, May 25th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. HP has a consensus rating of “Buy” and an average price target of $20.57.
Shares of HP (NYSE:HPQ) traded down 0.72% during midday trading on Tuesday, reaching $19.22. 5,044,657 shares of the company’s stock were exchanged. HP has a 12 month low of $13.77 and a 12 month high of $19.78. The company has a market cap of $32.31 billion, a P/E ratio of 13.97 and a beta of 1.93. The firm has a 50 day moving average price of $19.05 and a 200 day moving average price of $18.22.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that HP will post $1.65 earnings per share for the current fiscal year.
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In other HP news, insider Marie Myers sold 12,119 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the transaction, the insider now owns 5,621 shares in the company, valued at $101,571.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the transaction, the director now owns 692,849 shares of the company’s stock, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,713,815 shares of company stock valued at $31,984,460. 0.62% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in HP by 1.6% in the second quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock worth $2,161,114,000 after purchasing an additional 1,945,965 shares in the last quarter. BlackRock Inc. raised its holdings in HP by 2.5% in the second quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock worth $1,898,325,000 after purchasing an additional 2,608,983 shares in the last quarter. State Street Corp raised its holdings in HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after purchasing an additional 515,648 shares in the last quarter. Primecap Management Co. CA raised its holdings in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after purchasing an additional 2,163,147 shares in the last quarter. Finally, American International Group Inc. raised its holdings in HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after purchasing an additional 457,514 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.
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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