HP (NYSE:HPQ) Price Target Lowered to $29.00 at JPMorgan Chase & Co.

HP (NYSE:HPQ) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $40.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the computer maker’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 22.29% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Citigroup reduced their price objective on HP from $36.50 to $25.00 and set a “neutral” rating for the company in a report on Monday. Barclays upped their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Wells Fargo & Company increased their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.00.

HP Stock Performance

Shares of HPQ opened at $23.71 on Thursday. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm has a 50 day moving average price of $28.93 and a 200-day moving average price of $32.90. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities research analysts predict that HP will post 3.56 earnings per share for the current year.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of HP

Several institutional investors and hedge funds have recently bought and sold shares of HPQ. Geode Capital Management LLC raised its holdings in HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Amundi boosted its position in shares of HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after purchasing an additional 899,349 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of HP by 16.1% in the 3rd 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 in the last quarter. Oak Thistle LLC boosted its holdings in HP by 169.3% during the fourth 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. Finally, Tidal Investments LLC boosted its stake in shares of HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after acquiring an additional 47,230 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Company Profile

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.