Brokerages Set HP Inc. (NYSE:HPQ) PT at $35.55

HP Inc. (NYSE:HPQ) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.55.

Several equities analysts have commented on the company. Loop Capital cut their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays decreased their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HP

Large investors have recently added to or reduced their stakes in the company. Sawyer & Company Inc grew its position in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares during the last quarter. Rise Advisors LLC grew its holdings in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the 2nd quarter valued at $34,000. Finally, Wolff Wiese Magana LLC boosted its position 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 worth $35,000 after purchasing an additional 518 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Stock Up 1.1 %

NYSE HPQ opened at $37.58 on Tuesday. HP has a 52 week low of $25.67 and a 52 week high of $39.52. The firm has a market capitalization of $36.77 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 2.67 and a beta of 1.07. The company has a fifty day moving average of $35.28 and a two-hundred day moving average of $33.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that HP will post 3.39 EPS for the current year.

HP declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

HP Company Profile

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.