HP (HPQ) Rating Lowered to Equal Weight at Barclays

HP (NYSE:HPQ) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $23.00 price target on the computer maker’s stock. Barclays’ target price would indicate a potential upside of 0.52% from the company’s previous close.

Other research analysts have also issued reports about the company. UBS Group upped their target price on HP from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday. Guggenheim reissued a “neutral” rating on shares of HP in a report on Monday, October 2nd. Maxim Group reissued a “hold” rating and set a $25.00 price objective on shares of HP in a report on Wednesday, November 22nd. Loop Capital reissued a “buy” rating and set a $25.00 price objective on shares of HP in a report on Wednesday, November 22nd. Finally, Wells Fargo & Co initiated coverage on HP in a report on Tuesday, November 14th. They set a “market perform” rating and a $21.00 price objective on the stock. Fourteen 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. HP currently has an average rating of “Buy” and a consensus target price of $21.49.

Shares of HP (NYSE:HPQ) traded down $0.04 during mid-day trading on Wednesday, reaching $22.88. The company’s stock had a trading volume of 9,311,600 shares, compared to its average volume of 7,538,120. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. HP has a 12 month low of $14.41 and a 12 month high of $23.11. The firm has a market cap of $37,990.00, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.41 and a beta of 1.81.

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

In other HP news, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $21.20, for a total value of $212,000.00. Following the sale, the insider now owns 11,966 shares of the company’s stock, valued at approximately $253,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ron Coughlin sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.50, for a total value of $337,500.00. Following the completion of the sale, the insider now directly owns 130,766 shares in the company, valued at approximately $2,942,235. The disclosure for this sale can be found here. Insiders sold a total of 1,247,677 shares of company stock worth $26,642,227 in the last ninety days. Insiders own 0.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC grew its holdings in HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. Evercore Wealth Management LLC raised its position in HP by 14.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after purchasing an additional 836 shares during the last quarter. D.A. Davidson & CO. raised its position in HP by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock valued at $132,000 after purchasing an additional 85 shares during the last quarter. Advisory Services Network LLC raised its position in HP by 9.8% in the 2nd quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock valued at $161,000 after purchasing an additional 824 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA raised its position in HP by 188.3% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock valued at $161,000 after purchasing an additional 5,262 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

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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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