Brokerages Set HP Inc. (HPQ) Price Target at $19.89
HP Inc. (NYSE:HPQ) has been assigned an average recommendation of “Buy” from the twenty-five brokerages that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $19.89.
A number of analysts recently issued reports on the stock. Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating in a report on Tuesday, April 18th. Morgan Stanley lifted their target price on shares of HP from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 18th. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 price objective (up previously from $18.00) on shares of HP in a research note on Friday, May 19th.
In other HP news, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 221,960 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after buying an additional 1,013 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of HP during the first quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC boosted its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the last quarter. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the last quarter. Finally, First Command Bank boosted its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.
Shares of HP (HPQ) remained flat at $18.90 during midday trading on Tuesday. 6,609,939 shares of the company’s stock were exchanged. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 13.37 and a beta of 1.90. HP has a one year low of $13.55 and a one year high of $19.58. The firm’s 50-day moving average price is $18.53 and its 200 day moving average price is $17.82.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Analysts forecast that HP will post $1.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.81%. HP’s payout ratio is 37.32%.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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