HP Inc. (NYSE:HPQ) Rating Increased to Outperform at Royal Bank Of Canada
HP Inc. (NYSE:HPQ) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $22.00 price target on the computer maker’s stock, up from their prior price target of $21.00. Royal Bank Of Canada’s price objective would indicate a potential upside of 16.16% from the company’s previous close.
Several other equities analysts have also issued reports on the stock. Jefferies Group LLC boosted their price target on shares of HP from $18.00 to $18.75 and gave the company a “hold” rating in a report on Tuesday. Susquehanna Bancshares Inc began coverage on shares of HP in a research note on Thursday, July 13th. They issued a “neutral” rating and a $20.00 target price for the company. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, July 12th. Mizuho raised shares of HP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Finally, ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.89.
Shares of HP (NYSE HPQ) traded up 1.28% during mid-day trading on Thursday, hitting $18.94. The stock had a trading volume of 11,180,816 shares. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 13.39 and a beta of 1.89. The stock’s 50-day moving average price is $17.98 and its 200-day moving average price is $17.35. HP has a 12-month low of $13.55 and a 12-month high of $19.58.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that HP will post $1.64 EPS for the current fiscal year.
In other HP news, CFO Catherine A. Lesjak sold 52,387 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $19.00, for a total value of $995,353.00. Following the sale, the chief financial officer now owns 52,387 shares in the company, valued at $995,353. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $18.95, for a total transaction of $189,500.00. Following the completion of the sale, the insider now owns 51,745 shares in the company, valued at approximately $980,567.75. The disclosure for this sale can be found here. Insiders have sold a total of 917,383 shares of company stock worth $16,603,892 in the last quarter. 0.62% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter worth $112,000. CWM LLC raised its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares in the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares in the last quarter. First Command Bank raised its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 79.49% of the company’s stock.
HP Company Profile
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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