HP Inc. (HPQ) Raised to Strong-Buy at Vetr Inc.
HP Inc. (NYSE:HPQ) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm presently has a $17.76 target price on the computer maker’s stock. Vetr‘s price target would suggest a potential upside of 17.00% from the company’s previous close.
A number of other equities analysts also recently issued reports on HPQ. Credit Suisse Group AG reissued a “buy” rating and issued a $19.00 price target on shares of HP in a research note on Friday, August 12th. Royal Bank Of Canada increased their price target on shares of HP from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Monday, August 22nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 target price (up previously from $12.00) on shares of HP in a research note on Monday, August 22nd. Citigroup Inc. raised their target price on shares of HP from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th. Finally, Jefferies Group raised their target price on shares of HP from $16.00 to $16.75 and gave the company a “buy” rating in a research note on Thursday, August 25th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.84.
HP (NYSE:HPQ) opened at 15.18 on Monday. HP has a 52 week low of $8.91 and a 52 week high of $16.19. The stock has a 50 day moving average price of $14.95 and a 200-day moving average price of $14.03. The stock has a market cap of $25.97 billion, a P/E ratio of 8.08 and a beta of 1.53.
HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The company earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. HP’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that HP will post $1.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a $0.1327 dividend. This is a boost from HP’s previous quarterly dividend of $0.12. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, December 12th. HP’s dividend payout ratio (DPR) is presently 35.21%.
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In other HP news, insider Tracy S. Keogh sold 100,000 shares of HP 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 directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of HPQ. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the third quarter worth approximately $106,000. FineMark National Bank & Trust boosted its position in shares of HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock worth $109,000 after buying an additional 168 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of HP during the third quarter worth approximately $120,000. Acrospire Investment Management LLC boosted its position in shares of HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock worth $124,000 after buying an additional 700 shares during the last quarter. Finally, Cedar Wealth Management LLC boosted its position in shares of HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock worth $131,000 after buying an additional 220 shares during the last quarter. 79.49% of the stock is 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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