HP (NYSE:HPQ) Price Target Lowered to $38.00 at TD Cowen

HP (NYSE:HPQ) had its target price dropped by analysts at TD Cowen from $39.00 to $38.00 in a report released on Friday,Briefing.com Automated Import reports. The firm presently has a “hold” rating on the computer maker’s stock. TD Cowen’s target price indicates a potential upside of 14.65% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company raised their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley decreased their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Barclays increased their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.50.

HP Stock Performance

Shares of HPQ stock opened at $33.15 on Friday. The stock’s 50 day simple moving average is $33.15 and its 200 day simple moving average is $34.86. The company has a market capitalization of $31.08 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.96 and a beta of 1.05. HP has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, analysts forecast that HP will post 3.56 EPS for the current fiscal year.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,737 shares of company stock valued at $9,316,641. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC acquired a new position in shares of HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP in the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of HP during the 4th quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in HP during the 3rd quarter worth $40,000. 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.