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

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

A number of other equities analysts also recently commented on HPQ. Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.14.

HP Stock Up 0.2 %

Shares of HPQ opened at $28.76 on Tuesday. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.96 and a beta of 1.09. The business’s 50 day moving average is $32.07 and its two-hundred day moving average is $34.28. HP has a 52-week low of $27.43 and a 52-week high of $39.80.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. On average, equities analysts expect that HP will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Trading of HP

Several hedge funds have recently added to or reduced their stakes in HPQ. West Paces Advisors Inc. increased its holdings in shares of HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after purchasing an additional 298 shares during the period. TIAA Trust National Association grew its position in HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after buying an additional 302 shares in the last quarter. King Luther Capital Management Corp increased its stake in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after buying an additional 303 shares during the period. HBK Sorce Advisory LLC raised its position in shares of HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after buying an additional 306 shares in the last quarter. Finally, Auxano Advisors LLC lifted its stake in shares of HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after acquiring an additional 310 shares during the period. 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.