Vetr Inc. Upgrades HP Inc. (HPQ) to Strong-Buy
HP Inc. (NYSE:HPQ) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm currently has a $16.84 target price on the computer maker’s stock. Vetr‘s price objective indicates a potential upside of 16.30% from the stock’s current price.
Several other analysts have also weighed in on HPQ. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price objective on shares of HP in a report on Tuesday, June 21st. Credit Suisse Group AG restated a “buy” rating and issued a $19.00 target price on shares of HP in a research note on Wednesday, June 22nd. Citigroup Inc. restated a “neutral” rating and issued a $13.00 target price on shares of HP in a research note on Wednesday, June 22nd. Jefferies Group restated a “buy” rating and issued a $14.50 target price on shares of HP in a research note on Thursday, June 23rd. Finally, Sterne Agee CRT restated a “neutral” rating and issued a $12.00 target price on shares of HP in a research note on Thursday, June 23rd. Eighteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $15.26.
HP (NYSE:HPQ) opened at 14.48 on Monday. The stock has a market capitalization of $24.77 billion, a P/E ratio of 7.71 and a beta of 1.55. HP has a 1-year low of $8.91 and a 1-year high of $15.88. The company has a 50-day moving average price of $14.90 and a 200 day moving average price of $13.48.
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HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. HP’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. On average, equities analysts predict that HP will post $1.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were issued a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio is presently 26.74%.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the sale, the insider now owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock worth $284,000 after buying an additional 72 shares during the period. Thompson Investment Management Inc. raised its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock worth $510,000 after buying an additional 120 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock worth $240,000 after buying an additional 513 shares in the last quarter. Advisory Services Network LLC raised its position in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of HP by 9.8% in the third quarter. Fisher Asset Management LLC now owns 15,844 shares of the computer maker’s stock worth $246,000 after buying an additional 1,409 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
To view Vetr’s full report, visit Vetr’s official website.
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