HP (NYSE:HPQ) Price Target Raised to $35.00

HP (NYSE:HPQ) had its price target hoisted by research analysts at Wells Fargo & Company from $30.00 to $35.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the computer maker’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.28% from the stock’s previous close.

A number of other research analysts have also commented on HPQ. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. TD Cowen raised their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One 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 stock. Based on data from MarketBeat, HP presently has a consensus rating of “Hold” and an average price target of $36.68.

HP Stock Down 0.3 %

HPQ stock opened at $34.56 on Thursday. The stock has a market cap of $32.41 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.92 and a beta of 1.05. The firm’s 50-day simple moving average is $33.10 and its 200 day simple moving average is $34.81. HP has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts forecast that HP will post 3.56 EPS for the current fiscal year.

Insider Activity

In other HP news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the firm’s 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 completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 over the last three months. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC bought a new stake in shares of HP in the 3rd quarter valued at approximately $25,000. Synergy Asset Management LLC bought a new stake in shares of HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in HP in the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of HP in the fourth quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of HP in the third quarter valued at approximately $40,000. 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.