Hewlett Packard Enterprise (NYSE:HPE) Upgraded at Barclays

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $24.00 price objective on the technology company’s stock, up from their prior price objective of $20.00. Barclays‘s price objective suggests a potential upside of 17.94% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their target price for the company from $21.00 to $24.00 in a research note on Tuesday, September 17th. Wells Fargo & Company lifted their price objective on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Loop Capital upped their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Argus raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, June 7th. Finally, Citigroup initiated coverage on Hewlett Packard Enterprise in a report on Monday. They issued a “neutral” rating and a $20.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Hewlett Packard Enterprise currently has an average rating of “Hold” and an average price target of $21.31.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE opened at $20.35 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $18.57 and a 200 day simple moving average of $18.64. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The company has a market cap of $26.45 billion, a PE ratio of 14.85, a P/E/G ratio of 3.05 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Insider Activity

In other news, EVP Neil B. Macdonald sold 29,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the sale, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Hewlett Packard Enterprise by 3.7% during the first quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock valued at $2,869,655,000 after purchasing an additional 5,777,901 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Hewlett Packard Enterprise by 14,953.2% during the 2nd quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock worth $490,925,000 after buying an additional 23,035,594 shares during the period. Dimensional Fund Advisors LP lifted its stake in Hewlett Packard Enterprise by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock valued at $399,507,000 after buying an additional 822,722 shares in the last quarter. Legal & General Group Plc lifted its stake in Hewlett Packard Enterprise by 3.8% during the second quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock valued at $358,602,000 after buying an additional 617,691 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Hewlett Packard Enterprise by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 9,483,975 shares of the technology company’s stock valued at $200,776,000 after buying an additional 237,321 shares in the last quarter. 80.78% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.