HP’s (HPQ) Neutral Rating Reiterated at J P Morgan Chase & Co
HP Inc. (NYSE:HPQ)‘s stock had its “neutral” rating reissued by equities researchers at J P Morgan Chase & Co in a report released on Thursday. They currently have a $19.50 target price on the computer maker’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 0.98% from the company’s current price.
A number of other research analysts have also recently issued reports on HPQ. UBS AG reiterated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub cut HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Maxim Group reiterated a “hold” rating and issued a $22.00 target price (up previously from $21.00) on shares of HP in a research report on Thursday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of HP in a research report on Friday, May 19th. Finally, Zacks Investment Research cut HP from a “buy” rating to a “hold” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $20.53.
Shares of HP (HPQ) traded down 0.52% on Thursday, reaching $19.31. 13,592,877 shares of the company’s stock traded hands. The company’s 50-day moving average is $18.86 and its 200-day moving average is $18.09. The firm has a market capitalization of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90. HP has a 52 week low of $13.77 and a 52 week high of $19.78. HP also was the recipient of some unusual options trading on Wednesday. Stock traders purchased 16,052 call options on the company. This represents an increase of approximately 739% compared to the average volume of 1,914 call options.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that HP will post $1.65 earnings per share for the current fiscal year.
In other news, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the company’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 transaction, the director now directly owns 692,849 shares in the company, valued at $13,385,842.68. The disclosure for this sale can be found here. Insiders have sold 1,713,815 shares of company stock worth $31,984,460 over the last ninety days. 0.62% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of HPQ. Ferguson Wellman Capital Management Inc. purchased a new position in shares of HP during the first quarter worth $203,000. Waldron LP purchased a new position in shares of HP during the first quarter worth $288,000. First Manhattan Co. raised its position in shares of HP by 119.5% in the first quarter. First Manhattan Co. now owns 18,371 shares of the computer maker’s stock worth $285,000 after buying an additional 10,000 shares during the last quarter. Korea Investment CORP raised its position in shares of HP by 21.1% in the first quarter. Korea Investment CORP now owns 1,071,063 shares of the computer maker’s stock worth $19,151,000 after buying an additional 186,844 shares during the last quarter. Finally, Profund Advisors LLC raised its position in shares of HP by 3.6% in the first quarter. Profund Advisors LLC now owns 47,319 shares of the computer maker’s stock worth $846,000 after buying an additional 1,640 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.
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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