HP Inc. (HPQ) Given Hold Rating at Stifel Nicolaus
HP Inc. (NYSE:HPQ)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday. They presently have a $14.00 price objective on the computer maker’s stock. Stifel Nicolaus’ price target points to a potential downside of 26.47% from the company’s previous close.
A number of other analysts have also issued reports on the company. UBS AG reiterated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Royal Bank Of Canada upgraded HP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. BidaskClub lowered HP from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, April 25th. Finally, Goldman Sachs Group, Inc. (The) boosted their price objective on HP from $16.50 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Nine research 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 stock presently has an average rating of “Buy” and a consensus target price of $19.89.
HP (NYSE HPQ) traded down 0.37% on Wednesday, reaching $18.97. The company’s stock had a trading volume of 9,245,768 shares. The firm has a 50 day moving average of $18.60 and a 200 day moving average of $17.92. The firm has a market cap of $31.93 billion, a price-to-earnings ratio of 13.42 and a beta of 1.90. HP has a 12 month low of $13.55 and a 12 month high of $19.58.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts anticipate that HP will post $1.64 earnings per share for the current year.
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In related news, COO Jon E. Flaxman sold 35,000 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.26, for a total transaction of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at approximately $1,135,826.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the sale, the director now owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,748,815 shares of company stock valued at $32,623,560 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Boston Partners boosted its stake in shares of HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in HP during the first quarter valued at $79,108,000. Renaissance Technologies LLC acquired a new stake in HP during the first quarter valued at $62,824,000. DnB Asset Management AS boosted its stake in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock valued at $126,086,000 after buying an additional 3,358,299 shares during the period. Institutional investors own 79.90% of the company’s stock.
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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