HP Inc. (HPQ) Rating Reiterated by Jefferies Group LLC
HP Inc. (NYSE:HPQ)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group LLC in a note issued to investors on Thursday. They currently have a $19.00 target price on the computer maker’s stock, up from their prior target price of $18.75. Jefferies Group LLC’s price objective points to a potential downside of 1.61% from the company’s current price. Jefferies Group also issued estimates for HP’s Q4 2017 earnings at $0.45 EPS, FY2017 earnings at $1.66 EPS, Q1 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.68 EPS.
Several other research firms have also recently weighed in on HPQ. BidaskClub raised HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Credit Suisse Group reissued a “buy” rating and set a $19.00 price target on shares of HP in a report on Tuesday, May 23rd. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target on shares of HP in a report on Wednesday, August 16th. Loop Capital started coverage on HP in a report on Tuesday. They set a “buy” rating and a $23.00 price target for the company. Finally, Zacks Investment Research cut HP from a “buy” rating to a “hold” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $20.53.
Shares of HP (NYSE:HPQ) opened at 19.31 on Thursday. The firm has a market cap of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90. The firm has a 50-day moving average of $18.86 and a 200 day moving average of $18.09. HP has a 12 month low of $13.77 and a 12 month high of $19.78. HP also was the target of unusually large options trading on Wednesday. Stock traders acquired 16,052 call options on the stock. This is an increase of 739% compared to the average daily volume of 1,914 call options.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. On average, equities research analysts anticipate that HP will post $1.65 EPS for the current fiscal year.
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In other HP news, Director Margaret C. Whitman sold 147,976 shares of HP stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $17.92, for a total transaction of $2,651,729.92. Following the transaction, the director now directly owns 618,865 shares of the company’s stock, valued at approximately $11,090,060.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares in the company, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,713,815 shares of company stock worth $31,984,460 over the last ninety days. Company insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wedgewood Investors Inc. PA bought a new position in shares of HP during the first quarter valued at approximately $266,000. Hennessy Advisors Inc. increased its position in shares of HP by 100.1% in the first quarter. Hennessy Advisors Inc. now owns 442,300 shares of the computer maker’s stock valued at $7,908,000 after buying an additional 221,300 shares during the last quarter. Meyer Handelman Co. increased its position in shares of HP by 0.7% in the first quarter. Meyer Handelman Co. now owns 441,814 shares of the computer maker’s stock valued at $7,899,000 after buying an additional 3,000 shares during the last quarter. IFP Advisors Inc increased its position in shares of HP by 14.1% in the first quarter. IFP Advisors Inc now owns 31,833 shares of the computer maker’s stock valued at $569,000 after buying an additional 3,927 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of HP by 7.3% in the first quarter. Russell Investments Group Ltd. now owns 2,616,520 shares of the computer maker’s stock valued at $46,795,000 after buying an additional 178,649 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
HP Company Profile
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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