HP Inc. (NYSE:HPQ) Receives $35.55 Consensus Price Target from Brokerages

HP Inc. (NYSE:HPQ) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $35.55.

Several equities research analysts have commented on HPQ shares. UBS Group raised their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays decreased their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Finally, Morgan Stanley decreased their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th.

HP Stock Up 0.6 %

HPQ opened at $36.72 on Friday. The firm has a market cap of $35.39 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. HP has a fifty-two week low of $27.42 and a fifty-two week high of $39.52. The company’s 50-day moving average price is $35.91 and its 200 day moving average price is $34.92.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the company earned $0.86 EPS. HP’s revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that HP will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Trading of HP

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in shares of HP during the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in HP in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP in the second quarter valued at about $34,000. Wolff Wiese Magana LLC boosted its position in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in HP in the third quarter valued at about $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

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.