HP Inc. (HPQ) Price Target Raised to $25.00
HP Inc. (NYSE:HPQ) had its target price lifted by equities research analysts at Loop Capital from $23.00 to $25.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the computer maker’s stock. Loop Capital’s price target points to a potential upside of 22.55% from the stock’s previous close.
A number of other research analysts have also commented on the company. Deutsche Bank AG reissued a “buy” rating on shares of HP in a report on Thursday, August 24th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 12th. Mizuho raised HP from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $21.00 in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $20.00 price target on shares of HP in a report on Sunday, October 8th. Finally, BidaskClub raised HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Nine investment 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. HP currently has an average rating of “Buy” and an average target price of $21.01.
HP (NYSE:HPQ) last posted its 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 company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share.
In other HP news, CEO Dion J. Weisler sold 95,521 shares of HP stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $19.97, for a total value of $1,907,554.37. Following the transaction, the chief executive officer now directly owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the completion of the transaction, the insider now directly owns 435,018 shares in the company, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders sold a total of 2,127,206 shares of company stock worth $41,757,043 over the last three months. 0.62% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. Waldron LP bought a new position in HP in the 1st quarter worth approximately $288,000. Neuberger Berman Group LLC increased its position in HP by 31.2% in the 1st quarter. Neuberger Berman Group LLC now owns 272,826 shares of the computer maker’s stock worth $4,878,000 after buying an additional 64,805 shares during the period. Spark Investment Management LLC increased its position in HP by 230.7% in the 1st quarter. Spark Investment Management LLC now owns 319,500 shares of the computer maker’s stock worth $5,712,000 after buying an additional 222,900 shares during the period. Boston Private Wealth LLC increased its position in HP by 7.0% in the 1st quarter. Boston Private Wealth LLC now owns 71,063 shares of the computer maker’s stock worth $1,271,000 after buying an additional 4,662 shares during the period. Finally, BB&T Securities LLC increased its position in HP by 52.2% in the 1st quarter. BB&T Securities LLC now owns 66,225 shares of the computer maker’s stock worth $1,184,000 after buying an additional 22,721 shares during the period. 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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