Vetr Inc. Lowers HP Inc. (HPQ) to Buy

Vetr lowered shares of HP Inc. (NYSE:HPQ) from a strong-buy rating to a buy rating in a report issued on Monday morning. They currently have $17.76 target price on the computer maker’s stock.

A number of other equities research analysts have also issued reports on HPQ. RBC Capital Markets restated a sector perform rating and set a $16.00 price target on shares of HP in a report on Friday, October 21st. Mizuho boosted their price target on shares of HP from $12.00 to $14.00 and gave the company a neutral rating in a report on Friday, October 14th. Citigroup Inc. boosted their price target on shares of HP from $14.00 to $16.00 and gave the company a neutral rating in a report on Monday, October 10th. Deutsche Bank AG boosted their price target on shares of HP from $15.00 to $18.00 and gave the company a buy rating in a report on Monday, October 10th. Finally, Royal Bank Of Canada boosted their price target on shares of HP from $14.00 to $16.00 and gave the company a sector perform rating in a report on Monday, October 10th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. HP currently has an average rating of Hold and a consensus target price of $15.73.

Shares of HP (NYSE:HPQ) opened at 14.87 on Monday. The stock’s 50 day moving average is $14.98 and its 200 day moving average is $14.00. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 7.92 and a beta of 1.53. HP has a 52-week low of $8.91 and a 52-week high of $16.19.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that HP will post $1.60 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.1327 per share. The ex-dividend date is Monday, December 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.57%. This is a positive change from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio is currently 35.21%.

In other HP news, insider Marie Myers sold 10,269 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the sale, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares in the company, valued at approximately $3,203,730. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Exxonmobil Investment Management Inc. TX raised its stake in shares of HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares in the last quarter. Quotient Investors LLC acquired a new position in shares of HP during the second quarter valued at about $630,000. Visionary Asset Management Inc. raised its position in shares of HP by 3.0% in the second quarter. Visionary Asset Management Inc. now owns 219,612 shares of the computer maker’s stock valued at $2,760,000 after buying an additional 6,466 shares during the period. New Century Advisors LLC raised its position in shares of HP by 28.6% in the second quarter. New Century Advisors LLC now owns 224,800 shares of the computer maker’s stock valued at $2,819,000 after buying an additional 50,000 shares during the period. Finally, Adams Asset Advisors LLC raised its position in shares of HP by 9.0% in the second quarter. Adams Asset Advisors LLC now owns 237,390 shares of the computer maker’s stock valued at $2,979,000 after buying an additional 19,520 shares during the period. 79.49% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Vetr Inc. Lowers HP Inc. (HPQ) to Buy” was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this report can be accessed at https://sportsperspectives.com/2016/11/24/vetr-inc-lowers-hp-inc-hpq-to-buy.html.

HP Company Profile

HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.

5 Day Chart for NYSE:HPQ

To view Vetr’s full report, visit Vetr’s official website.

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.

Latest News

Leave a Reply