HP (NYSE:HPQ) Stock Rating Lowered by Wall Street Zen

HP (NYSE:HPQ) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also recently issued reports on HPQ. UBS Group lifted their price objective on HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Bank of America lifted their target price on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. upped their price objective on HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Wells Fargo & Company lifted their price objective on HP from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Finally, Zacks Research upgraded shares of HP from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $23.33.

HP Trading Down 0.0%

HPQ stock opened at $24.84 on Friday. The company’s 50-day moving average price is $23.76 and its 200 day moving average price is $21.11. HP has a 52 week low of $17.56 and a 52 week high of $29.65. The company has a market cap of $22.71 billion, a P/E ratio of 9.16, a P/E/G ratio of 4.19 and a beta of 1.19.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, equities research analysts expect that HP will post 2.98 earnings per share for the current year.

Insider Buying and Selling at HP

In other news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total transaction of $259,732.32. Following the transaction, the insider directly owned 92,200 shares in the company, valued at $2,275,496. This represents a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HP

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of HP by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker’s stock valued at $2,943,063,000 after purchasing an additional 2,435,634 shares during the last quarter. State Street Corp increased its holdings in shares of HP by 5.3% during the 3rd quarter. State Street Corp now owns 52,703,639 shares of the computer maker’s stock worth $1,450,245,000 after buying an additional 2,651,623 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of HP by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker’s stock worth $607,373,000 after buying an additional 274,033 shares during the last quarter. Invesco Ltd. raised its position in shares of HP by 31.7% in the 4th quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker’s stock worth $339,468,000 after buying an additional 3,671,511 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of HP by 50.2% in the 4th quarter. AQR Capital Management LLC now owns 13,582,142 shares of the computer maker’s stock worth $302,610,000 after buying an additional 4,542,339 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

About HP

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.