BMO Capital Markets Raises HP (NYSE:HPQ) Price Target to $23.00

HP (NYSE:HPQ) had its price target raised by BMO Capital Markets to $23.00 in a research report issued to clients and investors on Wednesday, November 22nd, The Fly reports. The brokerage currently has a “positive” rating on the computer maker’s stock. BMO Capital Markets’ price target points to a potential upside of 9.68% from the stock’s previous close.

Several other research analysts have also recently weighed in on HPQ. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 price target on shares of HP in a report on Thursday, August 24th. Mizuho reiterated a “buy” rating and issued a $21.00 price target on shares of HP in a report on Thursday, August 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of HP in a report on Thursday, August 24th. Guggenheim reiterated a “neutral” rating on shares of HP in a report on Monday, October 2nd. Finally, FBN Securities reiterated an “outperform” rating and issued a $25.00 price target (up previously from $23.00) on shares of HP in a report on Thursday, August 24th. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $21.31.

HP (NYSE:HPQ) traded down $0.05 on Wednesday, hitting $20.97. 8,450,918 shares of the company were exchanged, compared to its average volume of 10,972,317. HP has a twelve month low of $14.40 and a twelve month high of $22.68. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $35,200.00, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 2.23 and a beta of 1.80.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The firm had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. equities analysts anticipate that HP will post 1.79 earnings per share for the current fiscal year.

In other HP news, insider Enrique Lores sold 40,965 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $21.50, for a total value of $880,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dion J. Weisler sold 731,502 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the completion of the sale, the insider now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,139,153 shares of company stock valued at $44,020,119. Corporate insiders own 0.62% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HPQ. Tudor Investment Corp ET AL bought a new position in shares of HP in the first quarter valued at about $225,000. BB&T Corp raised its position in shares of HP by 9.7% in the second quarter. BB&T Corp now owns 26,724 shares of the computer maker’s stock valued at $467,000 after purchasing an additional 2,359 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of HP by 242.3% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 188,635 shares of the computer maker’s stock valued at $3,308,000 after purchasing an additional 133,527 shares during the period. Greenleaf Trust raised its position in shares of HP by 3.8% in the second quarter. Greenleaf Trust now owns 12,955 shares of the computer maker’s stock valued at $226,000 after purchasing an additional 479 shares during the period. Finally, First Midwest Bank Trust Division bought a new position in shares of HP in the second quarter valued at about $205,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

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About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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