Hewlett Packard Enterprise (HPE) Coverage Initiated at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Hewlett Packard Enterprise (NYSE:HPE) in a research note issued to investors on Wednesday. The firm set a “neutral” rating and a $16.00 price target on the technology company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 2.50% from the stock’s previous close.

A number of other research analysts also recently issued reports on HPE. Sanford C. Bernstein restated a “buy” rating and issued a $18.00 price objective on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. TheStreet upgraded Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a research note on Monday, October 16th. Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and issued a $17.00 price objective on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have assigned a buy rating to the stock. Hewlett Packard Enterprise presently has an average rating of “Hold” and a consensus target price of $16.16.

Shares of Hewlett Packard Enterprise (NYSE:HPE) traded down $0.12 during trading on Wednesday, reaching $15.61. The company had a trading volume of 1,410,944 shares, compared to its average volume of 10,957,154. Hewlett Packard Enterprise has a 1-year low of $12.81 and a 1-year high of $24.88. The company has a market capitalization of $24,960.25, a P/E ratio of 74.19, a P/E/G ratio of 2.63 and a beta of 2.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.13 and a quick ratio of 1.01.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Tuesday, November 21st. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Hewlett Packard Enterprise had a return on equity of 7.70% and a net margin of 0.93%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.78 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. Hewlett Packard Enterprise’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.19 EPS for the current fiscal year.

Hewlett Packard Enterprise declared that its board has authorized a stock repurchase program on Wednesday, October 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In related news, EVP Alan Richard May sold 7,607 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $14.42, for a total transaction of $109,692.94. Following the sale, the executive vice president now owns 100,079 shares of the company’s stock, valued at approximately $1,443,139.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 242,165 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $15.27, for a total value of $3,697,859.55. Following the sale, the director now directly owns 1,705,823 shares in the company, valued at approximately $26,047,917.21. The disclosure for this sale can be found here. Insiders have sold a total of 1,407,123 shares of company stock valued at $22,389,810 in the last quarter. 0.87% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Hewlett Packard Enterprise by 19.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 80,484,863 shares of the technology company’s stock worth $1,183,932,000 after purchasing an additional 13,150,243 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Hewlett Packard Enterprise by 69.7% during the 3rd quarter. Pzena Investment Management LLC now owns 37,560,840 shares of the technology company’s stock worth $552,520,000 after purchasing an additional 15,431,606 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Hewlett Packard Enterprise by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,053,045 shares of the technology company’s stock worth $280,271,000 after purchasing an additional 350,597 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Hewlett Packard Enterprise by 8.2% during the 4th quarter. Victory Capital Management Inc. now owns 13,164,978 shares of the technology company’s stock worth $189,050,000 after purchasing an additional 998,236 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Hewlett Packard Enterprise by 71.0% during the 3rd quarter. Schroder Investment Management Group now owns 12,475,175 shares of the technology company’s stock worth $181,763,000 after purchasing an additional 5,177,979 shares in the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.

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Hewlett Packard Enterprise Company Profile

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).

Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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