HP Inc. (NYSE:HPQ) Receives $35.55 Consensus PT from Analysts

Shares of HP Inc. (NYSE:HPQ) have received an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $35.55.

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Bank of America lifted their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Barclays lowered their target price on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Institutional investors have recently added to or reduced their stakes in the stock. Sawyer & Company Inc grew its stake in HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. Rise Advisors LLC grew its position in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of HP during the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP in the second quarter worth about $34,000. Finally, DecisionPoint Financial LLC purchased a new stake in shares of HP in the second quarter worth about $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 2.1 %

Shares of NYSE:HPQ opened at $35.84 on Friday. The stock has a fifty day simple moving average of $35.06 and a two-hundred day simple moving average of $33.13. HP has a 12-month low of $25.22 and a 12-month high of $39.52. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the prior year, the firm earned $0.86 EPS. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that HP will post 3.39 EPS for the current year.

HP declared that its board has authorized a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.