Morgan Stanley Raises HP (NYSE:HPQ) Price Target to $39.00


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HP (NYSE:HPQ) had its price objective upped by research analysts at Morgan Stanley to $39.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the computer maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 18.04% from the company’s previous close.

A number of other brokerages have also commented on HPQ. JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and set a $35.00 price target on the stock in a report on Thursday, March 4th. Barclays lowered HP from an “equal weight” rating to an “underweight” rating and set a $22.00 price target on the stock. in a report on Thursday, January 14th. Deutsche Bank Aktiengesellschaft raised their target price on HP from $21.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, February 23rd. Finally, Cowen raised their target price on HP from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, February 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.15.

Shares of HPQ stock traded up $0.30 during trading hours on Thursday, reaching $33.04. The company had a trading volume of 9,578,852 shares, compared to its average volume of 10,185,106. HP has a 12 month low of $13.39 and a 12 month high of $33.18. The business has a fifty day simple moving average of $30.42 and a 200-day simple moving average of $24.48. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 25th. The computer maker reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.27. The company had revenue of $15.65 billion for the quarter, compared to analyst estimates of $15.24 billion. HP had a negative return on equity of 196.27% and a net margin of 5.02%. As a group, equities research analysts predict that HP will post 2.67 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Redpoint Investment Management Pty Ltd grew its position in shares of HP by 3.5% in the first quarter. Redpoint Investment Management Pty Ltd now owns 45,837 shares of the computer maker’s stock valued at $1,455,000 after purchasing an additional 1,540 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in shares of HP in the first quarter valued at $201,000. Trilogy Capital Inc. grew its position in shares of HP by 2.2% in the first quarter. Trilogy Capital Inc. now owns 36,263 shares of the computer maker’s stock valued at $1,151,000 after purchasing an additional 793 shares in the last quarter. Calamos Advisors LLC grew its position in HP by 3.2% during the first quarter. Calamos Advisors LLC now owns 208,061 shares of the computer maker’s stock worth $6,606,000 after buying an additional 6,431 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in HP during the first quarter worth about $64,139,000. Institutional investors own 80.58% of the company’s stock.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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