HP Inc. (HPQ) Given “Buy” Rating at Credit Suisse Group AG
HP Inc. (NYSE:HPQ)‘s stock had its “buy” rating reissued by research analysts at Credit Suisse Group AG in a report released on Sunday. They presently have a $19.00 price objective on the computer maker’s stock. Credit Suisse Group AG’s target price indicates a potential upside of 21.95% from the company’s current price.
Several other research firms have also issued reports on HPQ. FBN Securities restated a “sector perform” rating on shares of HP in a report on Thursday, September 8th. Jefferies Group reaffirmed a “buy” rating and issued a $16.75 price target on shares of HP in a research note on Wednesday, September 7th. Vetr downgraded shares of HP from a “strong-buy” rating to a “buy” rating and set a $16.12 price target on the stock. in a research note on Monday, September 19th. Morgan Stanley reaffirmed a “buy” rating on shares of HP in a research note on Tuesday, September 13th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $18.00 price target on shares of HP in a research note on Tuesday, September 13th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.76.
Shares of HP (NYSE:HPQ) opened at 15.58 on Friday. HP has a 1-year low of $8.91 and a 1-year high of $15.74. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 8.30 and a beta of 1.55. The company’s 50-day moving average is $14.79 and its 200 day moving average is $13.38.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Equities analysts anticipate that HP will post $1.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s payout ratio is 26.74%.
In other news, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now directly owns 213,582 shares in the company, valued at approximately $3,203,730. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares during the last quarter. Wealthsource Partners LLC purchased a new position in shares of HP during the first quarter valued at $175,000. Wealthfront Inc. boosted its position in shares of HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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