HP (HPQ) Price Target Raised to $27.00

HP (NYSE:HPQ) had its price target upped by analysts at Citigroup from $23.00 to $27.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the computer maker’s stock. Citigroup’s target price would suggest a potential upside of 13.92% from the company’s current price.

Several other brokerages have also recently weighed in on HPQ. UBS Group raised their price target on shares of HP from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, January 16th. Barclays cut shares of HP from an “overweight” rating to an “equal weight” rating and set a $23.00 price target on the stock. in a research report on Wednesday. Maxim Group reaffirmed a “hold” rating and issued a $25.00 price target on shares of HP in a research report on Wednesday, November 22nd. Royal Bank of Canada raised their price target on shares of HP from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Finally, BMO Capital Markets raised their price target on shares of HP to $23.00 and gave the company a “positive” rating in a research report on Wednesday, November 22nd. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $21.71.

HP (NYSE HPQ) traded up $0.41 during mid-day trading on Thursday, hitting $23.70. 11,456,696 shares of the stock were exchanged, compared to its average volume of 6,197,452. The company has a market cap of $38,991.91, a PE ratio of 15.91, a PEG ratio of 2.49 and a beta of 1.82. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. HP has a one year low of $14.41 and a one year high of $23.79.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $13.93 billion for the quarter, compared to analysts’ expectations of $13.36 billion. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. research analysts forecast that HP will post 1.81 EPS for the current year.

In other HP news, insider Dion J. Weisler sold 525,719 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $21.22, for a total value of $11,155,757.18. Following the completion of the sale, the insider now owns 865,216 shares in the company, valued at approximately $18,359,883.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kim M. Rivera sold 14,635 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $21.08, for a total transaction of $308,505.80. Following the completion of the sale, the insider now owns 79,553 shares of the company’s stock, valued at approximately $1,676,977.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,550,570 shares of company stock valued at $33,702,662. Company insiders own 0.62% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. increased its stake in shares of HP by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after purchasing an additional 85 shares during the last quarter. National Asset Management Inc. increased its stake in shares of HP by 1.4% during the 2nd quarter. National Asset Management Inc. now owns 11,788 shares of the computer maker’s stock worth $208,000 after purchasing an additional 165 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of HP by 0.8% during the 2nd quarter. Westside Investment Management Inc. now owns 32,457 shares of the computer maker’s stock worth $580,000 after purchasing an additional 250 shares during the last quarter. Finally, Hancock Holding Co. increased its stake in shares of HP by 0.5% during the 2nd quarter. Hancock Holding Co. now owns 49,755 shares of the computer maker’s stock worth $870,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 80.92% of the company’s stock.

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About HP

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.

Analyst Recommendations for HP (NYSE:HPQ)



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