TD Cowen Issues Positive Forecast for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its price target upped by TD Cowen from $32.00 to $39.00 in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a “hold” rating on the computer maker’s stock. TD Cowen’s price objective points to a potential downside of 0.20% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. UBS Group boosted their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays reduced their target price 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. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.09.

HP Stock Down 0.6 %

Shares of HP stock opened at $39.08 on Wednesday. The stock has a market cap of $37.66 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The business has a fifty day simple moving average of $36.56 and a 200-day simple moving average of $35.53. HP has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Analysts expect that HP will post 3.39 EPS for the current fiscal year.

HP announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HPQ. Ashton Thomas Securities LLC acquired a new position in HP in the third quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new position in shares of HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP in the 2nd quarter valued at $34,000. 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 during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in HP in the third quarter valued at about $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

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.