Hewlett Packard Enterprise Company (HPE) Downgraded by UBS AG
Hewlett Packard Enterprise Company (NYSE:HPE) was downgraded by stock analysts at UBS AG from a “buy” rating to a “neutral” rating in a research report issued on Friday, 247wallst.com reports. They currently have a $15.00 price target on the technology company’s stock, down from their previous price target of $16.00. UBS AG’s price objective would suggest a potential upside of 6.84% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a report on Monday, October 16th. Mizuho reiterated a “buy” rating on shares of Hewlett Packard Enterprise in a report on Wednesday, July 12th. CIBC cut their price target on shares of Hewlett Packard Enterprise from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and set a $22.00 price target on shares of Hewlett Packard Enterprise in a report on Saturday, July 22nd. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $17.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.79.
Shares of Hewlett Packard Enterprise (NYSE:HPE) traded up 1.30% during mid-day trading on Friday, hitting $14.04. 12,664,357 shares of the company’s stock traded hands. The company has a market cap of $22.74 billion, a PE ratio of 195.00 and a beta of 2.71. Hewlett Packard Enterprise has a 52 week low of $12.43 and a 52 week high of $15.12. The firm has a 50-day moving average of $14.23 and a 200 day moving average of $13.88.
Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Tuesday, September 5th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.49 billion. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%. Hewlett Packard Enterprise’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities research analysts predict that Hewlett Packard Enterprise will post $1.39 EPS for the current year.
Hewlett Packard Enterprise announced that its board has approved a stock repurchase program on Wednesday, October 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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In other news, EVP Henry Gomez sold 494,360 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $14.87, for a total transaction of $7,351,133.20. Following the completion of the sale, the executive vice president now directly owns 494,360 shares of the company’s stock, valued at $7,351,133.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Margaret C. Whitman sold 389,668 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $17.82, for a total transaction of $6,943,883.76. Following the sale, the chief executive officer now directly owns 962,433 shares of the company’s stock, valued at $17,150,556.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,655,534 shares of company stock valued at $55,953,330. 0.87% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Harfst & Associates Inc. purchased a new position in Hewlett Packard Enterprise during the first quarter worth about $127,000. WFG Advisors LP boosted its holdings in Hewlett Packard Enterprise by 15.3% during the second quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock worth $100,000 after purchasing an additional 801 shares during the last quarter. Guardian Life Insurance Co. of America boosted its holdings in Hewlett Packard Enterprise by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 6,427 shares of the technology company’s stock worth $152,000 after purchasing an additional 43 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in Hewlett Packard Enterprise by 3.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock worth $108,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Hewlett Packard Enterprise by 4.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock worth $111,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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