HP Inc (NYSE:HPQ)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group AG in a research report issued on Tuesday. They presently have a $19.00 target price on the computer maker’s stock. Credit Suisse Group AG’s price target points to a potential downside of 0.05% from the stock’s current price.
Several other research analysts have also commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $20.00 price target (up from $18.00) on shares of HP in a research report on Friday, May 19th. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Morgan Stanley increased their price objective on HP from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Finally, Citigroup Inc upgraded HP from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.38.
HP (NYSE:HPQ) opened at 19.01 on Tuesday. HP has a 12 month low of $11.40 and a 12 month high of $19.49. The firm has a market capitalization of $32.19 billion, a P/E ratio of 12.97 and a beta of 1.52. The company’s 50 day moving average price is $18.63 and its 200 day moving average price is $16.62. HP also was the target of unusually large options trading on Monday. Stock traders bought 14,623 put options on the stock. This represents an increase of 936% compared to the average daily volume of 1,412 put options.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that HP will post $1.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be paid a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Monday, June 12th. HP’s dividend payout ratio is presently 37.32%.
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In other news, insider Tracy S. Keogh sold 113,582 shares of HP stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $17.43, for a total transaction of $1,979,734.26. Following the sale, the insider now owns 96,926 shares in the company, valued at $1,689,420.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ron Coughlin sold 10,000 shares of HP stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the sale, the insider now owns 61,745 shares in the company, valued at approximately $1,120,054.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,093,741 shares of company stock worth $19,482,770. 0.51% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in HP during the third quarter worth approximately $106,000. American Beacon Advisors Inc. purchased a new stake in HP during the first quarter worth approximately $112,000. CWM LLC boosted its stake in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in HP during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 78.94% 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.
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