HP Inc. (HPQ) Rating Reiterated by Guggenheim
HP Inc. (NYSE:HPQ)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a research report issued on Monday.
A number of other brokerages have also recently weighed in on HPQ. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Thursday, July 20th. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price objective on shares of HP in a report on Thursday, August 24th. BMO Capital Markets reissued a “hold” rating and set a $20.00 price objective on shares of HP in a report on Thursday, August 24th. Mizuho reissued a “buy” rating and issued a $21.00 price objective on shares of HP in a research note on Thursday, August 24th. Finally, Susquehanna Bancshares Inc assumed coverage on HP in a research note on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. HP currently has a consensus rating of “Buy” and an average target price of $20.57.
HP (HPQ) opened at 20.09 on Monday. HP has a 12-month low of $13.77 and a 12-month high of $20.23. The firm has a market cap of $33.56 billion, a price-to-earnings ratio of 14.60 and a beta of 1.94. The company’s 50 day moving average is $19.39 and its 200 day moving average is $18.62.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that HP will post $1.65 earnings per share for the current year.
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In other news, insider Tracy S. Keogh sold 265,600 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total value of $5,285,440.00. Following the sale, the insider now owns 165,952 shares of the company’s stock, valued at approximately $3,302,444.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dion J. Weisler sold 95,521 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $19.97, for a total transaction of $1,907,554.37. Following the sale, the chief executive officer now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,530,169 shares of company stock valued at $48,902,046. Company insiders own 0.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. W. E. Donoghue & Co. LLC acquired a new position in HP in the second quarter valued at about $15,889,000. Achmea Investment Management B.V. grew its stake in HP by 1.9% during the second quarter. Achmea Investment Management B.V. now owns 365,859 shares of the computer maker’s stock worth $6,393,000 after buying an additional 6,828 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in HP by 2.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,389,100 shares of the computer maker’s stock worth $24,281,000 after buying an additional 32,100 shares during the last quarter. Toronto Dominion Bank grew its stake in HP by 24.6% during the second quarter. Toronto Dominion Bank now owns 571,079 shares of the computer maker’s stock worth $9,981,000 after buying an additional 112,883 shares during the last quarter. Finally, Oak Associates Ltd. OH grew its stake in HP by 3.9% during the second quarter. Oak Associates Ltd. OH now owns 430,796 shares of the computer maker’s stock worth $7,530,000 after buying an additional 16,000 shares during the last quarter. 79.18% of the stock is owned by hedge funds and other institutional investors.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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