HP (NYSE:HPQ) Lowered to Hold Rating by Wall Street Zen

HP (NYSE:HPQ) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the company. TD Cowen upped their target price on HP from $20.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Zacks Research raised shares of HP from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Barclays upped their price objective on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group lifted their target price on shares of HP from $16.00 to $19.00 and gave the company a “sell” rating in a research report on Tuesday, June 2nd. Finally, UBS Group boosted their target price on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $23.33.

HP Stock Up 2.9%

Shares of HP stock opened at $24.84 on Friday. The firm has a market cap of $22.71 billion, a PE ratio of 9.16, a P/E/G ratio of 4.07 and a beta of 1.19. HP has a twelve month low of $17.56 and a twelve month high of $29.65. The business has a 50-day moving average price of $23.76 and a 200 day moving average price of $21.12.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. HP’s revenue for the quarter was up 9.0% on a year-over-year basis. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, sell-side analysts expect that HP will post 2.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider David P. Mcquarrie sold 10,524 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total transaction of $259,732.32. Following the transaction, the insider directly owned 92,200 shares in the company, valued at approximately $2,275,496. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Garner Asset Management Corp purchased a new position in HP during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in HP in the 4th quarter valued at $26,000. SHP Wealth Management purchased a new stake in HP in the 4th quarter valued at $26,000. Sound Income Strategies LLC increased its stake in shares of HP by 97.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,312 shares of the computer maker’s stock worth $27,000 after acquiring an additional 646 shares during the last quarter. Finally, Union Savings Bank purchased a new position in shares of HP during the 4th quarter worth $28,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

About HP

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.