HP (HPQ) Downgraded to “Peer Perform” at Wolfe Research

Wolfe Research downgraded shares of HP (NYSE:HPQ) from an outperform rating to a peer perform rating in a research note released on Tuesday, Briefing.com Automated Import reports. They currently have $21.00 price target on the computer maker’s stock, down from their prior price target of $25.00.

HPQ has been the subject of several other reports. ValuEngine downgraded HP from a hold rating to a sell rating in a report on Thursday, February 28th. Zacks Investment Research upgraded HP from a sell rating to a hold rating in a report on Tuesday, April 23rd. BMO Capital Markets dropped their price objective on HP from $22.00 to $20.00 and set a market perform rating for the company in a report on Thursday, February 28th. Bank of America downgraded HP from a buy rating to an underperform rating and set a $19.00 price objective for the company. in a report on Thursday, February 28th. Finally, JPMorgan Chase & Co. restated a hold rating on shares of HP in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $25.71.

HPQ traded up $0.03 during trading on Tuesday, hitting $18.33. The company’s stock had a trading volume of 39,304 shares, compared to its average volume of 8,866,735. The company has a market capitalization of $27.97 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 3.02 and a beta of 1.38. HP has a twelve month low of $18.12 and a twelve month high of $27.08.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The company had revenue of $14.71 billion during the quarter, compared to the consensus estimate of $14.81 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. HP’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, research analysts anticipate that HP will post 2.14 earnings per share for the current year.

In other news, CEO Dion J. Weisler sold 36,799 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Claybrook Capital LLC boosted its position in HP by 367.8% in the 4th quarter. Claybrook Capital LLC now owns 1,235 shares of the computer maker’s stock valued at $25,000 after buying an additional 971 shares during the last quarter. Dubuque Bank & Trust Co. boosted its position in HP by 1,760.0% in the 1st quarter. Dubuque Bank & Trust Co. now owns 1,302 shares of the computer maker’s stock valued at $25,000 after buying an additional 1,232 shares during the last quarter. Sontag Advisory LLC purchased a new position in HP in the 4th quarter valued at about $26,000. Gradient Investments LLC boosted its position in HP by 331.6% in the 1st quarter. Gradient Investments LLC now owns 1,394 shares of the computer maker’s stock valued at $27,000 after buying an additional 1,071 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in HP in the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 79.19% of the company’s stock.

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.

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