Recent Research Analysts’ Ratings Updates for HP (HPQ)

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Several brokerages have updated their recommendations and price targets on shares of HP (NYSE: HPQ) in the last few weeks:

  • 4/17/2019 – HP was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “HP’s efforts to turnaround the business have been commendable. The company is focusing on product innovation & differentiation, pricing, and marketing and sales activities to trigger demand for its PC and Printing products in the market, which is currently witnessing a slowdown. The company projects CPU shortages to show improvements during the second half as well as the cost from the overall basket of Components and Logistics is anticipated to improve. We note that rising macro uncertainties and price sensitivity among customers are overhangs on the company’s high-margin Printing business. Change in customer behavior with more customers buying items online, is negatively impacting HP’s Supplies share. Adverse currency volatility is another headwind to the company. Shares underperformed the industry in the past year.”
  • 4/11/2019 – HP is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $21.00 price target on the stock.
  • 4/10/2019 – HP was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “HP’s efforts to turnaround the business have been commendable. The company is focusing on product innovation & differentiation, pricing, and marketing and sales activities to trigger demand for its PC and Printing products in the market, which is currently witnessing a slowdown. The company projects CPU shortages to show improvements during the second half as well as the cost from the overall basket of Components and Logistics is anticipated to improve. We note that rising macro uncertainties and price sensitivity among customers are overhangs on the company’s high-margin Printing business. Change in customer behavior with more customers buying items online, is negatively impacting HP’s Supplies share. Adverse currency volatility is another headwind to the company. Shares underperformed the industry in the past year.”
  • 4/1/2019 – HP was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 3/21/2019 – HP was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 2/28/2019 – HP was downgraded by analysts at Bank of America Corp from a “buy” rating to an “underperform” rating. They now have a $19.00 price target on the stock.
  • 2/28/2019 – HP was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 2/28/2019 – HP had its price target lowered by analysts at BMO Capital Markets from $22.00 to $20.00. They now have a “market perform” rating on the stock.
  • 2/28/2019 – HP had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co..
  • 2/27/2019 – HP had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $22.00 price target on the stock.

Shares of HPQ opened at $20.33 on Monday. HP Inc. has a 12-month low of $18.46 and a 12-month high of $27.08. The firm has a market capitalization of $31.31 billion, a P/E ratio of 10.06, a PEG ratio of 3.39 and a beta of 1.39.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The company had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. During the same period last year, the business earned $0.48 EPS. HP’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that HP Inc. will post 2.14 earnings per share for the current year.

In other HP news, CEO Dion J. Weisler sold 36,799 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in HP in the 4th quarter worth about $334,781,000. Oregon Public Employees Retirement Fund increased its holdings in HP by 2,609.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock worth $564,000 after acquiring an additional 11,118,507 shares during the last quarter. Morgan Stanley increased its holdings in HP by 136.0% in the 3rd quarter. Morgan Stanley now owns 12,812,429 shares of the computer maker’s stock worth $330,176,000 after acquiring an additional 7,384,389 shares during the last quarter. Millennium Management LLC increased its holdings in HP by 618.3% in the 4th quarter. Millennium Management LLC now owns 3,497,565 shares of the computer maker’s stock worth $71,560,000 after acquiring an additional 3,010,663 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in HP by 113.6% in the 1st quarter. DNB Asset Management AS now owns 5,496,652 shares of the computer maker’s stock worth $106,800,000 after acquiring an additional 2,923,736 shares during the last quarter. 81.01% of the stock is owned by hedge funds and other institutional investors.

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.

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