HP (HPQ) Given New $30.00 Price Target at UBS Group

HP (NYSE:HPQ) had its price objective lifted by UBS Group from $29.00 to $30.00 in a research report released on Thursday morning, www.benzinga.com reports. They currently have a buy rating on the computer maker’s stock.

Several other brokerages also recently commented on HPQ. Morgan Stanley lowered their price objective on shares of HP from $29.00 to $28.00 and set an equal weight rating for the company in a research report on Thursday. Maxim Group boosted their price objective on shares of HP from $28.00 to $29.00 and gave the company a buy rating in a research report on Friday, August 24th. Loop Capital boosted their price objective on shares of HP to $30.00 and gave the company a positive rating in a research report on Thursday. Zacks Investment Research downgraded shares of HP from a buy rating to a hold rating in a research report on Tuesday, August 28th. Finally, ValuEngine downgraded shares of HP from a buy rating to a hold rating in a research report on Thursday, August 2nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $26.94.

Shares of HPQ opened at $25.34 on Thursday. HP has a one year low of $19.31 and a one year high of $27.08. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.96 and a beta of 1.64. The company has a debt-to-equity ratio of -2.55, a current ratio of 0.85 and a quick ratio of 0.61.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. HP had a net margin of 7.95% and a negative return on equity of 130.47%. The business had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $14.29 billion. During the same period in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that HP will post 2.02 earnings per share for the current fiscal year.

In other HP news, COO Catherine A. Lesjak sold 693,594 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of HPQ. CSat Investment Advisory L.P. purchased a new stake in shares of HP during the 2nd quarter valued at $113,000. NuWave Investment Management LLC purchased a new stake in shares of HP during the 2nd quarter valued at $116,000. Institutional & Family Asset Management LLC purchased a new stake in shares of HP during the 1st quarter valued at $118,000. Summit Trail Advisors LLC raised its position in HP by 2,106.3% in the 1st quarter. Summit Trail Advisors LLC now owns 161,547 shares of the computer maker’s stock worth $162,000 after purchasing an additional 154,225 shares during the period. Finally, Highlander Capital Management LLC purchased a new position in HP in the 1st quarter worth $184,000. Institutional investors and hedge funds own 79.67% 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.

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