Loop Capital Issues Pessimistic Forecast for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its target price dropped by investment analysts at Loop Capital from $35.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the computer maker’s stock. Loop Capital’s price target suggests a potential upside of 2.45% from the stock’s current price.

Several other analysts have also recently commented on the stock. HSBC cut shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays raised their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.14.

HP Stock Performance

Shares of HP stock traded down $0.76 during trading hours on Tuesday, hitting $29.28. The company’s stock had a trading volume of 9,601,978 shares, compared to its average volume of 6,611,137. The company has a market cap of $27.61 billion, a PE ratio of 10.42, a PEG ratio of 2.96 and a beta of 1.05. The business has a 50 day moving average price of $33.04 and a two-hundred day moving average price of $34.80. HP has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. As a group, research analysts anticipate that HP will post 3.56 earnings per share for the current year.

Insider Buying and Selling at HP

In other 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 transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 262,737 shares of company stock worth $9,316,641 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Institutional Trading of HP

A number of large investors have recently modified their holdings of HPQ. Ashton Thomas Securities LLC purchased a new stake in shares of HP in the 3rd quarter worth $25,000. Synergy Asset Management LLC bought a new stake in shares of HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in HP during the 4th quarter worth about $36,000. Finally, OFI Invest Asset Management purchased a new position in HP during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors 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.