HP (NYSE:HPQ) Rating Increased to Buy at StockNews.com

HP (NYSE:HPQ) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

HPQ has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Morgan Stanley cut their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Barclays lifted their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, HSBC cut shares of HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.14.

HP Price Performance

HPQ opened at $28.91 on Tuesday. The firm has a market cap of $27.25 billion, a P/E ratio of 10.29, a PEG ratio of 2.96 and a beta of 1.09. HP has a 1-year low of $27.43 and a 1-year high of $39.80. The company has a 50 day simple moving average of $32.26 and a two-hundred day simple moving average of $34.37.

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

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Synergy Asset Management LLC purchased a new position in shares of HP in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP in the 4th quarter worth approximately $36,000. OFI Invest Asset Management purchased a new position in shares of HP in the 4th quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of HP in the 3rd quarter worth approximately $40,000. 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.