HP Inc. (NYSE:HPQ) Lifted to “Strong-Buy” at BidaskClub
HP Inc. (NYSE:HPQ) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.
Several other research analysts have also recently commented on HPQ. UBS AG restated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “hold” rating and issued a $21.00 target price on shares of HP in a research report on Friday, July 14th. Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $21.00 in a research report on Monday, July 10th. Citigroup Inc. set a $20.00 target price on shares of HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, FBN Securities restated an “outperform” rating and issued a $23.00 target price (up previously from $19.00) on shares of HP in a research report on Sunday, May 28th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. HP has a consensus rating of “Buy” and an average target price of $19.89.
HP (NYSE:HPQ) traded up 1.117% during trading on Tuesday, hitting $19.455. The company had a trading volume of 6,063,488 shares. HP has a 12 month low of $13.55 and a 12 month high of $19.58. The company has a market cap of $32.75 billion, a PE ratio of 13.759 and a beta of 1.89. The company’s 50 day moving average price is $17.99 and its 200-day moving average price is $17.43.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. HP’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Equities analysts expect that HP will post $1.64 earnings per share for the current year.
In related news, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the sale, the insider now owns 51,745 shares in the company, valued at approximately $980,567.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine A. Lesjak sold 67,997 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $19.00, for a total transaction of $1,291,943.00. Following the completion of the sale, the chief financial officer now owns 67,997 shares of the company’s stock, valued at approximately $1,291,943. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,213,319 shares of company stock valued at $22,226,676. 0.62% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in HPQ. Trexquant Investment LP bought a new stake in HP during the first quarter worth about $833,000. ZWJ Investment Counsel Inc. bought a new stake in HP during the first quarter worth about $443,000. Cornerstone Capital Management Holdings LLC. increased its stake in HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in HP during the first quarter worth about $112,000. Institutional investors own 79.63% of the company’s stock.
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.
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.