HP Inc. (HPQ) Rating Increased to Strong-Buy at Vetr Inc.
HP Inc. (NYSE:HPQ) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage presently has a $16.84 target price on the computer maker’s stock. Vetr‘s price target suggests a potential upside of 18.51% from the company’s previous close.
Other analysts have also issued research reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $19.00 price objective on shares of HP in a research report on Friday, August 12th. Deutsche Bank AG reiterated a “buy” rating on shares of HP in a research note on Sunday, July 10th. Jefferies Group reiterated a “buy” rating and set a $14.50 target price on shares of HP in a research note on Thursday, June 23rd. Brean Capital reiterated a “buy” rating on shares of HP in a research note on Wednesday, June 22nd. Finally, Argus boosted their target price on shares of HP from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 29th. Eighteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. HP presently has a consensus rating of “Hold” and an average target price of $15.26.
HP (NYSE:HPQ) opened at 14.21 on Monday. The firm’s 50 day moving average price is $14.88 and its 200-day moving average price is $13.52. HP has a 1-year low of $8.91 and a 1-year high of $15.88. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 7.57 and a beta of 1.55.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.44 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that HP will post $1.61 earnings per share for the current year.
In other news, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, 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. 0.51% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in 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. raised its stake in 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 stake in HP during the first quarter valued at $175,000. Wealthfront Inc. raised its stake in 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, Raymond James Trust N.A. raised its stake in HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock valued at $240,000 after buying an additional 513 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.
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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