HP Inc. (HPQ) Rating Reiterated by Susquehanna Bancshares Inc
HP Inc. (NYSE:HPQ)‘s stock had its “hold” rating restated by investment analysts at Susquehanna Bancshares Inc in a research report issued to clients and investors on Friday. They currently have a $20.00 price objective on the computer maker’s stock. Susquehanna Bancshares Inc’s price target would suggest a potential upside of 3.57% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. FBN Securities reissued an “outperform” rating and issued a $23.00 price target (up previously from $19.00) on shares of HP in a report on Sunday, May 28th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Mizuho raised shares of HP from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada raised their price target on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.53.
Shares of HP (NYSE HPQ) opened at 19.31 on Friday. HP has a 52-week low of $13.77 and a 52-week high of $19.78. The stock’s 50 day moving average price is $18.86 and its 200 day moving average price is $18.09. The company has a market capitalization of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90.
HP (NYSE:HPQ) last posted its quarterly earnings data 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 company had revenue of $13.06 billion during 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 64.93%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities research analysts forecast that HP will post $1.65 earnings per share for the current fiscal year.
In related news, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction on 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 directly owns 544,881 shares of the company’s stock, valued at approximately $9,644,393.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the sale, 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 sold a total of 1,713,815 shares of company stock worth $31,984,460 over the last ninety days. 0.62% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Trexquant Investment LP acquired a new stake in shares of HP during the first quarter valued at approximately $833,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of HP during the first quarter valued at approximately $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after buying an additional 754,019 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of HP during the first quarter valued at approximately $112,000. 79.90% of the stock is currently owned by hedge funds and other 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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