HP (NYSE:HPQ) Downgraded to “Hold” Rating by Dbs Bank

HP (NYSE:HPQ) was downgraded by research analysts at Dbs Bank from a “moderate buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on HPQ. TD Cowen cut their price target on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. Citigroup cut their price target on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. Barclays set a $28.00 price target on HP and gave the company an “equal weight” rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on HP from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, May 29th. Finally, Wells Fargo & Company cut their target price on HP from $35.00 to $25.00 and set an “underweight” rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, HP has an average rating of “Hold” and a consensus target price of $29.54.

HP Price Performance

Shares of NYSE:HPQ opened at $24.72 on Wednesday. The business’s fifty day moving average price is $25.69 and its two-hundred day moving average price is $29.93. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. Research analysts expect that HP will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other HP news, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HP

Several hedge funds and other institutional investors have recently modified their holdings of the business. West Paces Advisors Inc. increased its stake in shares of HP by 3.2% in the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after purchasing an additional 298 shares during the last quarter. TIAA Trust National Association boosted its holdings in shares of HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after acquiring an additional 302 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after acquiring an additional 306 shares in the last quarter. Auxano Advisors LLC boosted its holdings in shares of HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after acquiring an additional 310 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 77.53% 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.