HP (NYSE:HPQ) Price Target Raised to $36.00

HP (NYSE:HPQ) had its price target lifted by equities researchers at Barclays from $35.00 to $36.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the computer maker’s stock. Barclays‘s price target points to a potential upside of 17.09% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, TD Cowen decreased their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.59.

HP Trading Down 7.2 %

HPQ traded down $2.39 on Friday, hitting $30.75. 23,228,767 shares of the company were exchanged, compared to its average volume of 6,492,232. The firm has a 50-day moving average price of $33.15 and a two-hundred day moving average price of $34.86. HP has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $13.35 billion. Equities analysts expect that HP will post 3.56 EPS for the current year.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. This represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 262,737 shares of company stock valued at $9,316,641. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

A number of institutional investors and hedge funds have recently modified their holdings of HPQ. Principal Financial Group Inc. grew its holdings in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares during the last quarter. Oak Thistle LLC boosted its position in shares of HP by 169.3% in the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after buying an additional 21,805 shares in the last quarter. Tidal Investments LLC increased its holdings in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares in the last quarter. MML Investors Services LLC raised its position in HP by 35.0% during the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock worth $2,243,000 after acquiring an additional 16,207 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of HP by 4.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock valued at $14,581,000 after purchasing an additional 18,557 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

About HP

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.