HP (NYSE:HPQ) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

HP (NYSE:HPQ) had its target price hoisted by investment analysts at Sanford C. Bernstein from $32.00 to $34.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the computer maker’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 2.60% from the company’s previous close.

Several other analysts also recently weighed in on HPQ. Barclays increased their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Loop Capital cut their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Citigroup decreased their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.23.

HP Stock Up 2.1 %

Shares of HP stock opened at $33.14 on Friday. HP has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a 50 day moving average price of $35.50 and a two-hundred day moving average price of $35.53. The stock has a market capitalization of $31.08 billion, a P/E ratio of 11.79, a PEG ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Sell-side analysts anticipate that HP will post 3.56 earnings per share for the current year.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On HP

A number of large investors have recently modified their holdings of HPQ. Ashton Thomas Securities LLC bought a new position in HP in the third quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its stake in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP during the 3rd quarter worth approximately $37,000. Itau Unibanco Holding S.A. bought a new stake in shares of HP during the third quarter worth approximately $40,000. Finally, DecisionPoint Financial LLC acquired a new position in HP in the second quarter valued at approximately $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.