HP (NYSE:HPQ) Downgraded to Hold Rating by StockNews.com

HP (NYSE:HPQ) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities research analysts also recently weighed in on the stock. Barclays upped their target price on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley cut their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. TD Cowen decreased their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Loop Capital cut their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, HP has a consensus rating of “Hold” and an average target price of $36.14.

HP Stock Performance

NYSE:HPQ opened at $24.32 on Tuesday. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a 50 day moving average price of $29.81 and a 200 day moving average price of $33.31. The stock has a market capitalization of $22.93 billion, a P/E ratio of 8.65, a PEG ratio of 2.96 and a beta of 1.09.

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

Insider Activity

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On HP

Institutional investors and hedge funds have recently made changes to their positions in the business. Synergy Asset Management LLC acquired a new position in HP in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new stake in shares of HP during the fourth quarter worth approximately $37,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of HP by 71.9% during the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after purchasing an additional 587 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Company Profile

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.