HP (NYSE:HPQ) Raised to “Buy” at StockNews.com

HP (NYSE:HPQ) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other research firms have also recently issued reports on HPQ. HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.14.

HP Stock Up 0.2 %

NYSE HPQ opened at $28.76 on Tuesday. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP has a fifty-two week low of $27.43 and a fifty-two week high of $39.80. The business has a fifty day moving average of $32.07 and a 200-day moving average of $34.28.

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

Insider Activity

In related news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. 111 Capital acquired a new position in HP during the 4th quarter worth approximately $557,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of HP by 4.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 245,182 shares of the computer maker’s stock valued at $8,000,000 after purchasing an additional 11,213 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of HP during the fourth quarter worth $10,421,000. Aegis Wealth Management LLC purchased a new position in shares of HP in the fourth quarter valued at $261,000. Finally, AG Asset Advisory LLC acquired a new stake in HP during the 4th quarter valued at $276,000. 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.