HP Inc. (HPQ) Research Coverage Started at Loop Capital
Loop Capital started coverage on shares of HP Inc. (NYSE:HPQ) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the computer maker’s stock.
Several other brokerages also recently commented on HPQ. Citigroup Inc. set a $20.00 price objective on shares of HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, April 25th. Bank of America Corporation raised their price objective on shares of HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, UBS AG reaffirmed a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.89.
Shares of HP (HPQ) traded up 2.42% on Tuesday, reaching $19.02. 8,431,320 shares of the company were exchanged. The company’s 50-day moving average price is $18.71 and its 200 day moving average price is $18.02. HP has a 12 month low of $13.55 and a 12 month high of $19.58. The company has a market cap of $32.02 billion, a price-to-earnings ratio of 13.45 and a beta of 1.90.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, equities research analysts expect that HP will post $1.65 EPS for the current year.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now owns 62,203 shares in the company, valued at approximately $1,135,826.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total value of $1,311,138.24. Following the completion of the sale, the director now owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 in the last three months. 0.62% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Boston Partners increased its stake in HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in HP during the first quarter worth $79,108,000. Renaissance Technologies LLC purchased a new stake in HP during the first quarter worth $62,824,000. Parametric Portfolio Associates LLC increased its stake in HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after buying an additional 3,358,299 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in HP by 26.3% in the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.
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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