Vetr Inc. Lowers HP Inc. (HPQ) to Buy
HP Inc. (NYSE:HPQ) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday. They currently have a $17.76 target price on the computer maker’s stock. Vetr‘s target price indicates a potential upside of 10.31% from the stock’s previous close.
Several other research analysts have also commented on HPQ. Credit Suisse Group AG reaffirmed a “buy” rating and set a $19.00 price target on shares of HP in a research report on Friday, August 12th. Royal Bank Of Canada lifted their price target on HP from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Monday, August 22nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price target (up previously from $12.00) on shares of HP in a research report on Monday, August 22nd. Citigroup Inc. lifted their price target on HP from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, August 25th. Finally, Jefferies Group lifted their price target on HP from $16.00 to $16.75 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.48.
HP (NYSE:HPQ) opened at 16.10 on Tuesday. HP has a 12 month low of $8.91 and a 12 month high of $16.19. The stock’s 50 day moving average price is $14.88 and its 200-day moving average price is $13.78. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 8.57 and a beta of 1.53.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that HP will post $1.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a $0.1327 dividend. This is an increase from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, December 12th. HP’s dividend payout ratio is currently 26.74%.
In related news, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the completion of the transaction, the insider now directly owns 22,390 shares in the company, valued at $325,774.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now owns 213,582 shares of the company’s stock, valued at $3,203,730. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. FineMark National Bank & Trust raised its position in HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in HP during the third quarter valued at approximately $120,000. Acrospire Investment Management LLC raised its position in HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock valued at $124,000 after buying an additional 700 shares during the last quarter. Cedar Wealth Management LLC raised its position in HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new position in HP during the third quarter valued at approximately $140,000. Hedge funds and other institutional investors own 78.89% of the company’s stock.
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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