Bank of America Cuts HP (NYSE:HPQ) Price Target to $26.00

HP (NYSE:HPQ) had its price objective reduced by Bank of America from $29.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the computer maker’s stock.

Several other analysts have also issued reports on the stock. HSBC set a $30.00 price target on shares of HP and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Sanford C. Bernstein started coverage on shares of HP in a research note on Monday, September 15th. They set a “market perform” rating and a $30.00 price objective on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $24.00 target price (down from $26.00) on shares of HP in a report on Monday, November 17th. Zacks Research upgraded HP from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Wall Street Zen downgraded HP from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.67.

HP Stock Performance

Shares of NYSE HPQ opened at $23.98 on Friday. The stock has a 50 day moving average price of $26.65 and a 200 day moving average price of $26.42. The stock has a market capitalization of $22.41 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 2.23 and a beta of 1.28. HP has a 52 week low of $21.21 and a 52 week high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The firm had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. As a group, research analysts forecast that HP will post 3.56 EPS for the current year.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 34,282 shares of HP stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $26.85, for a total transaction of $920,471.70. Following the completion of the sale, the chief executive officer owned 3 shares of the company’s stock, valued at approximately $80.55. The trade was a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anneliese Olson sold 18,154 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $27.88, for a total transaction of $506,133.52. Following the completion of the transaction, the insider owned 169 shares in the company, valued at approximately $4,711.72. This trade represents a 99.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On HP

A number of large investors have recently made changes to their positions in HPQ. Plato Investment Management Ltd boosted its stake in HP by 1.2% in the 1st quarter. Plato Investment Management Ltd now owns 31,030 shares of the computer maker’s stock valued at $869,000 after purchasing an additional 363 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of HP by 14.9% during the third quarter. Richardson Financial Services Inc. now owns 2,827 shares of the computer maker’s stock worth $77,000 after buying an additional 367 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of HP by 4.4% in the first quarter. Coppell Advisory Solutions LLC now owns 8,747 shares of the computer maker’s stock valued at $223,000 after acquiring an additional 369 shares during the period. Fiduciary Financial Group LLC boosted its position in shares of HP by 3.2% in the second quarter. Fiduciary Financial Group LLC now owns 12,712 shares of the computer maker’s stock valued at $324,000 after acquiring an additional 390 shares during the period. Finally, Auxano Advisors LLC grew its stake in shares of HP by 4.4% in the third quarter. Auxano Advisors LLC now owns 9,261 shares of the computer maker’s stock valued at $252,000 after acquiring an additional 391 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

About HP

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.