HP (HPQ) Price Target Raised to $27.00

HP (NYSE:HPQ) had its price target lifted by Citigroup from $23.00 to $27.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the computer maker’s stock.

HPQ has been the subject of several other research reports. Maxim Group restated a hold rating and issued a $25.00 price target on shares of HP in a research note on Wednesday, November 22nd. Wells Fargo & Co assumed coverage on shares of HP in a research note on Tuesday, November 14th. They issued a market perform rating and a $21.00 price target for the company. Bank of America boosted their price target on shares of HP from $22.00 to $23.00 and gave the stock a buy rating in a research note on Friday, October 13th. Royal Bank of Canada restated a hold rating on shares of HP in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded shares of HP from a hold rating to a buy rating and set a $23.00 price target for the company in a research note on Tuesday, October 10th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $21.71.

Shares of HP (HPQ) traded up $0.41 during midday trading on Thursday, reaching $23.70. The company’s stock had a trading volume of 11,535,622 shares, compared to its average volume of 8,490,000. The stock has a market capitalization of $38,990.00, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.47 and a beta of 1.81. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of -1.98. HP has a 52 week low of $14.41 and a 52 week high of $23.79.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.36 billion. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. analysts predict that HP will post 1.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were paid a dividend of $0.1393 per share. The ex-dividend date was Tuesday, December 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from HP’s previous quarterly dividend of $0.13. HP’s payout ratio is presently 37.84%.

In related news, insider Kim M. Rivera sold 14,635 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $21.08, for a total transaction of $308,505.80. Following the completion of the transaction, the insider now owns 79,553 shares in the company, valued at $1,676,977.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Enrique Lores sold 302,893 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.31, for a total transaction of $7,060,435.83. Following the transaction, the insider now owns 88,901 shares of the company’s stock, valued at approximately $2,072,282.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,550,570 shares of company stock valued at $33,702,662. Insiders own 0.62% of the company’s stock.

Several hedge funds have recently modified their holdings of HPQ. Eaton Vance Management boosted its stake in HP by 0.7% in the second quarter. Eaton Vance Management now owns 89,469 shares of the computer maker’s stock valued at $1,564,000 after acquiring an additional 586 shares in the last quarter. Franklin Resources Inc. boosted its stake in HP by 5.1% in the second quarter. Franklin Resources Inc. now owns 126,534 shares of the computer maker’s stock valued at $2,212,000 after acquiring an additional 6,158 shares in the last quarter. Investment Centers of America Inc. acquired a new position in HP in the second quarter valued at $202,000. Profund Advisors LLC boosted its stake in HP by 12.1% in the second quarter. Profund Advisors LLC now owns 53,027 shares of the computer maker’s stock valued at $927,000 after acquiring an additional 5,708 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in HP by 6.2% in the second quarter. ProShare Advisors LLC now owns 270,949 shares of the computer maker’s stock valued at $4,736,000 after acquiring an additional 15,758 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

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About HP

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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