OTR Global Downgrades Hewlett Packard Enterprise (HPE) to Positive

Hewlett Packard Enterprise (NYSE:HPE) was downgraded by equities researchers at OTR Global to a “positive” rating in a note issued to investors on Tuesday, The Fly reports.

HPE has been the subject of a number of other research reports. Mizuho restated a “hold” rating and set a $14.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Pivotal Research began coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, October 17th. They set a “hold” rating and a $14.00 target price for the company. TheStreet upgraded shares of Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a research report on Monday, October 16th. Finally, Oppenheimer restated a “buy” rating and set a $17.00 target price on shares of Hewlett Packard Enterprise in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.16.

Shares of Hewlett Packard Enterprise (NYSE HPE) traded down $0.31 during trading hours on Tuesday, hitting $15.44. 4,064,589 shares of the company were exchanged, compared to its average volume of 11,169,678. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. Hewlett Packard Enterprise has a 12-month low of $12.81 and a 12-month high of $24.88. The company has a market capitalization of $25,100.00 and a price-to-earnings ratio of 61.76.

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

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

In other news, EVP Alan Richard May sold 42,314 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $14.00, for a total value of $592,396.00. Following the completion of the sale, the executive vice president now owns 84,629 shares in the company, valued at approximately $1,184,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 242,165 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $15.27, for a total transaction of $3,697,859.55. Following the completion of the sale, the director now owns 1,705,823 shares of the company’s stock, valued at approximately $26,047,917.21. The disclosure for this sale can be found here. Insiders sold a total of 1,407,123 shares of company stock valued at $22,389,810 in the last 90 days. Company insiders own 0.87% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in HPE. Pzena Investment Management LLC lifted its holdings in shares of Hewlett Packard Enterprise by 69.7% in the 3rd quarter. Pzena Investment Management LLC now owns 37,560,840 shares of the technology company’s stock worth $552,520,000 after acquiring an additional 15,431,606 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Hewlett Packard Enterprise by 19.5% in 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 buying an additional 13,150,243 shares during the period. Schroder Investment Management Group increased its stake in Hewlett Packard Enterprise by 71.0% in the 3rd quarter. Schroder Investment Management Group now owns 12,475,175 shares of the technology company’s stock worth $181,763,000 after buying an additional 5,177,979 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Hewlett Packard Enterprise by 103.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,212,636 shares of the technology company’s stock worth $117,933,000 after buying an additional 4,174,106 shares during the period. Finally, Oldfield Partners LLP increased its stake in Hewlett Packard Enterprise by 64.8% in the 4th quarter. Oldfield Partners LLP now owns 9,575,509 shares of the technology company’s stock worth $137,504,000 after buying an additional 3,765,500 shares during the period. Hedge funds and other institutional investors own 83.05% of the company’s stock.

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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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