HP (NYSE:HPQ) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of HP (NYSE:HPQ) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. HSBC increased their price target on HP from $29.60 to $33.80 and gave the stock a “buy” rating in a report on Monday, August 31st. KGI Securities boosted their price objective on shares of HP from $18.00 to $32.00 in a research note on Thursday, August 27th. The Goldman Sachs Group upped their price objective on shares of HP from $21.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, August 31st. Bank of America restated an “underperform” rating on shares of HP in a research note on Thursday, August 27th. Finally, TD Cowen raised their target price on shares of HP from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 27th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average target price of $26.30.

HP Stock Up 0.8%

NYSE HPQ opened at $28.48 on Friday. The firm has a market cap of $25.68 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.54 and a beta of 1.16. HP has a 52-week low of $17.56 and a 52-week high of $36.22. The business’s 50-day moving average price is $31.57 and its 200 day moving average price is $24.84.

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

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 18,997 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $32.56, for a total transaction of $618,542.32. Following the sale, the insider directly owned 169 shares in the company, valued at approximately $5,502.64. The trade was a 99.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David P. Mcquarrie sold 31,572 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the sale, the insider owned 8,008 shares in the company, valued at $257,216.96. The trade was a 79.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of HP

Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Financial Freedom LLC purchased a new position in HP in the third quarter valued at about $27,000. North Point Portfolio Managers Corp OH acquired a new stake in shares of HP during the 3rd quarter valued at approximately $28,000. Aberdeen Wealth Management LLC purchased a new stake in shares of HP during the 2nd quarter worth approximately $29,000. MCF Advisors LLC boosted its stake in shares of HP by 149.0% during the 2nd quarter. MCF Advisors LLC now owns 1,337 shares of the computer maker’s stock worth $29,000 after acquiring an additional 800 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of HP during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Company Profile

HP Inc. is a global technology company that develops and sells personal computing and printing products and services. Its offerings include laptops, desktop computers, workstations, displays, accessories and peripherals, as well as printers, printing supplies and related solutions for consumers, businesses and public-sector customers. The company organizes its business around Personal Systems and Printing. In addition to hardware, HP provides services and solutions such as device management and managed print services, and it offers technologies for commercial and industrial printing.