StockNews.com Downgrades Hewlett Packard Enterprise (NYSE:HPE) to Hold

Hewlett Packard Enterprise (NYSE:HPE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other brokerages have also commented on HPE. Wells Fargo & Company reiterated an “equal weight” rating and set a $17.00 price objective (down from $21.00) on shares of Hewlett Packard Enterprise in a research report on Friday, March 1st. Sanford C. Bernstein cut Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $20.00 to $17.00 in a report on Tuesday, January 16th. Stifel Nicolaus dropped their target price on Hewlett Packard Enterprise from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, March 1st. Evercore ISI dropped their price objective on Hewlett Packard Enterprise from $19.00 to $18.00 and set an “in-line” rating for the company in a report on Friday, March 1st. Finally, Barclays dropped their price objective on Hewlett Packard Enterprise from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hewlett Packard Enterprise presently has a consensus rating of “Hold” and a consensus price target of $17.45.

Hewlett Packard Enterprise Trading Down 2.9 %

Shares of Hewlett Packard Enterprise stock opened at $17.42 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.89. Hewlett Packard Enterprise has a 52 week low of $13.65 and a 52 week high of $20.07. The stock has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $16.41. The stock has a market capitalization of $22.65 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 3.33 and a beta of 1.21.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. Hewlett Packard Enterprise’s revenue was down 13.5% compared to the same quarter last year. As a group, equities analysts anticipate that Hewlett Packard Enterprise will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Several large investors have recently made changes to their positions in HPE. Perkins Coie Trust Co increased its holdings in shares of Hewlett Packard Enterprise by 343.5% in the first quarter. Perkins Coie Trust Co now owns 3,282 shares of the technology company’s stock worth $58,000 after purchasing an additional 2,542 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Hewlett Packard Enterprise by 11.4% in the first quarter. Park Avenue Securities LLC now owns 21,840 shares of the technology company’s stock worth $387,000 after purchasing an additional 2,228 shares during the last quarter. American National Bank increased its holdings in shares of Hewlett Packard Enterprise by 89.4% in the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock worth $35,000 after purchasing an additional 920 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Hewlett Packard Enterprise by 14.1% in the first quarter. Banque Cantonale Vaudoise now owns 292,040 shares of the technology company’s stock worth $5,178,000 after purchasing an additional 36,048 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of Hewlett Packard Enterprise by 1.8% in the first quarter. Czech National Bank now owns 228,736 shares of the technology company’s stock worth $4,055,000 after purchasing an additional 4,050 shares during the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.