Loop Capital Raises HP Inc. (HPQ) Price Target to $25.00
HP Inc. (NYSE:HPQ) had its target price lifted by Loop Capital from $23.00 to $25.00 in a research report sent to investors on Friday morning. Loop Capital currently has a buy rating on the computer maker’s stock.
A number of other research analysts have also weighed in on HPQ. BidaskClub lowered HP from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a hold rating and set a $14.00 price objective on shares of HP in a report on Thursday, August 24th. J P Morgan Chase & Co reaffirmed a neutral rating and set a $19.50 price objective on shares of HP in a report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a hold rating and set a $21.00 price objective on shares of HP in a report on Friday, July 14th. Finally, Zacks Investment Research raised HP from a hold rating to a buy rating and set a $23.00 price objective on the stock in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. HP has an average rating of Buy and an average price target of $21.27.
Shares of HP (NYSE HPQ) traded up 0.115% on Friday, hitting $21.735. The stock had a trading volume of 1,936,756 shares. The firm has a 50 day moving average of $19.79 and a 200 day moving average of $18.82. The stock has a market cap of $36.30 billion, a P/E ratio of 15.796 and a beta of 1.94. HP has a 12 month low of $13.77 and a 12 month high of $22.00.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping 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 analyst estimates of $12.31 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. HP’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that HP will post $1.65 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were paid a dividend of $0.1327 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.44%. HP’s dividend payout ratio is presently 38.41%.
In other HP news, Director Margaret C. Whitman sold 295,936 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the completion of the sale, the director now directly owns 766,825 shares in the company, valued at $14,569,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dion J. Weisler sold 731,502 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the sale, the insider now owns 435,018 shares of the company’s stock, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders have sold 2,168,171 shares of company stock valued at $42,637,791 over the last 90 days. 0.62% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in HPQ. Boston Partners increased its stake in HP by 304.9% during the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after acquiring an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC acquired a new stake in HP during the first quarter worth about $62,824,000. Parametric Portfolio Associates LLC increased its stake in HP by 87.1% during the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after acquiring an additional 3,358,299 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in HP by 26.3% during the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after acquiring an additional 3,017,182 shares during the last quarter. Institutional investors own 79.17% of the company’s stock.
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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