HP Inc. (HPQ) Rating Reiterated by Royal Bank Of Canada
HP Inc. (NYSE:HPQ)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report released on Thursday. They currently have a $22.00 price objective on the computer maker’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 13.93% from the company’s current price.
A number of other research analysts have also recently issued reports on the stock. Bank of America Corporation lifted their price target on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of HP in a report on Thursday, May 25th. Credit Suisse Group reiterated a “buy” rating and issued a $19.00 price target on shares of HP in a research note on Tuesday, May 23rd. Citigroup Inc. set a $20.00 price target on shares of HP and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $20.53.
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. HP has a 1-year low of $13.77 and a 1-year high of $19.78. The stock has a 50 day moving average price of $18.86 and a 200-day moving average price of $18.09. HP also saw some unusual options trading activity on Wednesday. Stock traders bought 16,052 call options on the stock. This is an increase of approximately 739% compared to the typical daily volume of 1,914 call options.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 66.06%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. Equities research analysts forecast that HP will post $1.65 EPS for the current year.
In related news, Director Margaret C. Whitman sold 73,992 shares of the stock in a transaction 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 sale, the director now owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Margaret C. Whitman sold 221,960 shares of the stock in a transaction 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 sale, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. Insiders sold 1,713,815 shares of company stock worth $31,984,460 in the last three months. 0.62% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of HPQ. Bronfman E.L. Rothschild L.P. increased its position in 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 period. American Beacon Advisors Inc. acquired a new position in HP during the first quarter valued at $112,000. YorkBridge Wealth Partners LLC increased its position in HP by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after buying an additional 200 shares during the period. First Command Bank increased its position in 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 period. Finally, Evercore Wealth Management LLC increased its position in HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after buying an additional 836 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.
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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