Hewlett Packard Enterprise (NYSE:HPE) Stock Rating Upgraded by Bank of America

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a $24.00 target price on the technology company’s stock, up from their prior target price of $21.00. Bank of America‘s target price suggests a potential upside of 39.29% from the stock’s previous close.

HPE has been the subject of several other reports. StockNews.com upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Stifel Nicolaus upped their price objective on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Susquehanna reiterated a “neutral” rating and set a $20.00 price objective on shares of Hewlett Packard Enterprise in a research report on Friday, September 6th. UBS Group upped their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Argus upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, June 7th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.08.

Hewlett Packard Enterprise Stock Up 0.5 %

Hewlett Packard Enterprise stock opened at $17.23 on Tuesday. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The stock’s fifty day moving average is $18.91 and its two-hundred day moving average is $18.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same period in the previous year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts predict that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Hewlett Packard Enterprise by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock valued at $2,869,655,000 after purchasing an additional 5,777,901 shares in the last quarter. Pacer Advisors Inc. lifted its position in Hewlett Packard Enterprise by 14,953.2% during the second quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock valued at $490,925,000 after buying an additional 23,035,594 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hewlett Packard Enterprise by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock worth $399,507,000 after buying an additional 822,722 shares during the period. Legal & General Group Plc grew its stake in Hewlett Packard Enterprise by 3.8% during the second quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock worth $358,602,000 after buying an additional 617,691 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Hewlett Packard Enterprise by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,483,975 shares of the technology company’s stock valued at $200,776,000 after acquiring an additional 237,321 shares during the period. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.