HP (NYSE:HPQ) PT Set at $30.00 by UBS Group

HP (NYSE:HPQGet Rating) has been given a $30.00 price target by investment analysts at UBS Group in a research report issued on Thursday, Stock Target Advisor reports. UBS Group’s price objective would suggest a potential upside of 0.30% from the company’s previous close.

Several other analysts have also recently issued reports on HPQ. Morgan Stanley reduced their price objective on HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Cowen reduced their price objective on HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 31st. Credit Suisse Group cut HP from an “outperform” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Friday, November 18th. Evercore ISI reduced their price objective on HP to $33.00 in a research note on Tuesday, September 6th. Finally, Cfra set a $31.00 price objective on HP in a research note on Thursday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.67.

HP Stock Up 1.8 %

NYSE:HPQ traded up $0.53 during trading hours on Thursday, reaching $29.91. 17,741,296 shares of the stock were exchanged, compared to its average volume of 8,791,666. The business has a 50-day moving average of $27.07 and a two-hundred day moving average of $31.32. HP has a twelve month low of $24.08 and a twelve month high of $41.47. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 3.02 and a beta of 0.99.

HP (NYSE:HPQGet Rating) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. HP had a negative return on equity of 196.62% and a net margin of 5.09%. The company had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue was down 11.2% compared to the same quarter last year. On average, research analysts forecast that HP will post 3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.23, for a total transaction of $857,820.00. Following the transaction, the chief executive officer now owns 517,204 shares of the company’s stock, valued at $13,049,056.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On HP

A number of hedge funds and other institutional investors have recently made changes to their positions in HPQ. New England Asset Management Inc. grew its holdings in shares of HP by 11,092.9% during the second quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker’s stock worth $540,361,000 after buying an additional 16,337,183 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of HP by 41.6% during the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock worth $254,716,000 after buying an additional 2,061,479 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of HP during the third quarter worth about $46,671,000. Pacer Advisors Inc. grew its holdings in shares of HP by 41.7% during the third quarter. Pacer Advisors Inc. now owns 4,865,955 shares of the computer maker’s stock worth $121,260,000 after buying an additional 1,431,079 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in HP by 485.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 1,381,492 shares of the computer maker’s stock valued at $34,427,000 after purchasing an additional 1,145,593 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

About HP

(Get Rating)

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.

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