Hewlett Packard Enterprise (NYSE:HPE) Rating Increased to Buy at Bank of America

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $24.00 target price on the technology company’s stock, up from their previous target price of $21.00. Bank of America‘s price objective suggests a potential upside of 31.15% from the stock’s previous close.

Several other analysts also recently commented on the company. Evercore ISI raised their price objective on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 5th. Argus raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, June 7th. Barclays lifted their price target on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Wells Fargo & Company upped their price target on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Finally, Stifel Nicolaus raised their price objective on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.08.

Hewlett Packard Enterprise Trading Up 0.5 %

NYSE:HPE opened at $18.30 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $22.82. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.97 and a beta of 1.19. The business’s 50-day moving average price is $18.78 and its two-hundred day moving average price is $18.60.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.67 billion. During the same period last year, the company posted $0.35 EPS. Hewlett Packard Enterprise’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts expect that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the sale, the executive vice president now owns 82,061 shares of the company’s stock, valued at approximately $1,395,037. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Hewlett Packard Enterprise by 14,953.2% in the 2nd quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock valued at $490,925,000 after purchasing an additional 23,035,594 shares during the last quarter. Marshall Wace LLP grew its position in Hewlett Packard Enterprise by 3,228.2% in the second quarter. Marshall Wace LLP now owns 8,825,249 shares of the technology company’s stock valued at $186,831,000 after acquiring an additional 8,560,086 shares during the last quarter. Vanguard Group Inc. raised its stake in Hewlett Packard Enterprise by 3.7% during the first quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock worth $2,869,655,000 after acquiring an additional 5,777,901 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Hewlett Packard Enterprise by 336.7% in the second quarter. Panagora Asset Management Inc. now owns 4,269,603 shares of the technology company’s stock worth $90,387,000 after acquiring an additional 3,291,880 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at approximately $51,384,000. 80.78% of the stock is owned by 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.