HP (NYSE:HPQ) Stock Rating Lowered by StockNews.com

HP (NYSE:HPQ) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Several other research firms also recently commented on HPQ. Morgan Stanley lowered their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Loop Capital lowered their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $36.14.

HP Stock Down 4.4 %

Shares of HPQ opened at $28.66 on Monday. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP has a twelve month low of $27.43 and a twelve month high of $39.80. The company has a 50 day moving average of $32.63 and a two-hundred day moving average of $34.56.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, sell-side analysts expect that HP will post 3.56 EPS for the current year.

Insider Buying and Selling at HP

In other news, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of HP

A number of institutional investors and hedge funds have recently modified their holdings of HPQ. Norges Bank purchased a new stake in shares of HP during the fourth quarter worth about $229,320,000. State Street Corp increased its stake in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV increased its stake in shares of HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of HP during the fourth quarter worth about $65,260,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

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.