Hewlett Packard Enterprise (NYSE:HPE) Rating Increased to Buy at Bank of America

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports. The firm presently has a $19.00 price target on the technology company’s stock. Bank of America‘s price target points to a potential upside of 19.12% from the company’s current price.

HPE has been the subject of several other research reports. UBS Group set a $15.00 price objective on Hewlett Packard Enterprise and gave the company a “sell” rating in a report on Monday, September 30th. Zacks Investment Research upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, October 16th. Nomura decreased their price objective on Hewlett Packard Enterprise from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. TheStreet cut Hewlett Packard Enterprise from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Finally, Maxim Group decreased their price objective on Hewlett Packard Enterprise from $17.00 to $15.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.94.

Shares of NYSE HPE opened at $15.95 on Monday. The stock has a market capitalization of $20.85 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.34 and a beta of 1.60. The business has a 50-day moving average of $14.73 and a 200-day moving average of $14.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.88 and a quick ratio of 0.75. Hewlett Packard Enterprise has a fifty-two week low of $12.09 and a fifty-two week high of $16.97.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $7.22 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Hewlett Packard Enterprise had a positive return on equity of 12.92% and a negative net margin of 0.63%. Hewlett Packard Enterprise’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. On average, sell-side analysts expect that Hewlett Packard Enterprise will post 1.74 EPS for the current year.

In other Hewlett Packard Enterprise news, CEO Antonio F. Neri sold 49,635 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.19, for a total transaction of $753,955.65. Following the completion of the sale, the chief executive officer now directly owns 29,602 shares in the company, valued at $449,654.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philip Davis sold 16,436 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $14.43, for a total transaction of $237,171.48. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

A number of hedge funds have recently modified their holdings of HPE. Wealthcare Advisory Partners LLC lifted its position in Hewlett Packard Enterprise by 367.4% during the second quarter. Wealthcare Advisory Partners LLC now owns 2,136 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,679 shares during the last quarter. WealthStone Inc. acquired a new stake in Hewlett Packard Enterprise during the second quarter worth approximately $34,000. Truewealth LLC lifted its position in Hewlett Packard Enterprise by 72.7% during the second quarter. Truewealth LLC now owns 2,376 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. CSat Investment Advisory L.P. lifted its position in Hewlett Packard Enterprise by 231.9% during the second quarter. CSat Investment Advisory L.P. now owns 2,854 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,994 shares during the last quarter. Finally, Private Ocean LLC lifted its position in Hewlett Packard Enterprise by 49.2% during the second quarter. Private Ocean LLC now owns 3,856 shares of the technology company’s stock worth $57,000 after acquiring an additional 1,272 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.

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Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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