HP Inc. (HPQ) Price Target Raised to $25.00 at Morgan Stanley
HP Inc. (NYSE:HPQ) had its target price increased by equities researchers at Morgan Stanley from $23.00 to $25.00 in a note issued to investors on Friday. The brokerage presently has an “overweight” rating on the computer maker’s stock. Morgan Stanley’s price objective points to a potential upside of 22.55% from the company’s previous close.
A number of other equities analysts also recently weighed in on the company. BidaskClub downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Loop Capital boosted their target price on HP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus restated a “hold” rating and issued a $14.00 target price on shares of HP in a research note on Thursday, August 24th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $19.50 target price on shares of HP in a research note on Thursday, August 24th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.27.
HP (NYSE HPQ) traded up 6.62% on Friday, reaching $21.75. The company’s stock had a trading volume of 12,365,398 shares. HP has a 52-week low of $13.77 and a 52-week high of $21.91. The firm’s 50-day moving average price is $19.71 and its 200-day moving average price is $18.76. The stock has a market cap of $36.33 billion, a price-to-earnings ratio of 15.81 and a beta of 1.94.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities analysts expect that HP will post $1.65 earnings per share for the current year.
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In other HP news, CEO Dion J. Weisler sold 95,521 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $19.97, for a total transaction of $1,907,554.37. Following the sale, the chief executive officer now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Enrique Lores sold 40,965 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $20.50, for a total transaction of $839,782.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,127,206 shares of company stock worth $41,757,043. 0.62% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of HP by 19.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after acquiring an additional 1,013 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of HP in the 1st quarter valued at $112,000. YorkBridge Wealth Partners LLC boosted its holdings in shares of HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after acquiring an additional 200 shares during the last quarter. First Command Bank boosted its holdings in shares of HP by 80.0% in the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after acquiring an additional 2,984 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its holdings in shares of HP by 14.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after acquiring an additional 836 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors.
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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