HP (NYSE:HPQ) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of HP (NYSE:HPQ) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks reports.

Several other equities research analysts also recently issued reports on the stock. UBS Group raised their price objective on shares of HP from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Barclays increased their target price on HP from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday, August 28th. Royal Bank Of Canada initiated coverage on HP in a report on Thursday, September 10th. They set a “sector perform” rating and a $33.00 price target for the company. Bank of America restated an “underperform” rating on shares of HP in a research note on Thursday, August 27th. Finally, Evercore set a $32.00 price objective on HP in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, HP has a consensus rating of “Reduce” and a consensus price target of $25.42.

HP Price Performance

Shares of NYSE:HPQ opened at $32.44 on Tuesday. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.75 and a beta of 1.17. The firm’s 50 day simple moving average is $31.70 and its 200 day simple moving average is $24.45. HP has a fifty-two week low of $17.56 and a fifty-two week high of $36.22.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. Equities research analysts expect that HP will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In related news, insider David McQuarrie sold 31,572 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $32.12, for a total value of $1,014,092.64. Following the sale, the insider directly owned 8,008 shares in the company, valued at $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 63,144 shares of company stock worth $1,938,521. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HP

A number of large investors have recently bought and sold shares of the stock. North Point Portfolio Managers Corp OH acquired a new stake in HP in the third quarter worth about $28,000. Compass Wealth Management LLC acquired a new position in shares of HP during the third quarter valued at about $38,000. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter valued at approximately $39,000. Aberdeen Wealth Management LLC purchased a new position in shares of HP in the 2nd quarter valued at approximately $29,000. Finally, MCF Advisors LLC boosted its stake in HP by 149.0% in the 2nd quarter. MCF Advisors LLC now owns 1,337 shares of the computer maker’s stock worth $29,000 after purchasing an additional 800 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

About HP

HP Inc (NYSE: HPQ) is a global technology company that develops personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, peripherals, printers, digital printing systems, and related supplies such as ink and toner.

The company serves consumers, small and medium-sized businesses, large enterprises, and public-sector organizations through direct sales, online channels, retailers, distributors, and other business partners.