Morgan Stanley Lowers HP (NYSE:HPQ) Price Target to $35.00

HP (NYSE:HPQ) had its price objective decreased by stock analysts at Morgan Stanley from $36.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the computer maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 13.84% from the stock’s previous close.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Wells Fargo & Company raised their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. TD Cowen raised their target price on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Barclays raised their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.59.

HP Stock Down 7.2 %

HPQ stock opened at $30.75 on Friday. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.96 and a beta of 1.05. The business has a fifty day simple moving average of $33.11 and a 200-day simple moving average of $34.84. HP has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. As a group, analysts expect that HP will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,737 shares of company stock worth $9,316,641. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On HP

Institutional investors have recently modified their holdings of the stock. Diversify Advisory Services LLC bought a new position in HP in the 3rd quarter worth $228,000. First Trust Direct Indexing L.P. boosted its position in shares of HP by 3.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 38,208 shares of the computer maker’s stock valued at $1,371,000 after acquiring an additional 1,175 shares in the last quarter. US Bancorp DE boosted its position in shares of HP by 0.7% during the 3rd quarter. US Bancorp DE now owns 291,593 shares of the computer maker’s stock valued at $10,459,000 after acquiring an additional 1,917 shares in the last quarter. Summit Wealth Partners LLC acquired a new stake in shares of HP during the 3rd quarter valued at about $202,000. Finally, Lebenthal Global Advisors LLC boosted its position in HP by 18.9% in the third quarter. Lebenthal Global Advisors LLC now owns 15,502 shares of the computer maker’s stock valued at $556,000 after buying an additional 2,464 shares in the last quarter. Institutional investors and hedge funds own 77.53% 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.