HP (NYSE:HPQ) Lowered to Underweight at Barclays


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HP (NYSE:HPQ) was downgraded by research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued on Thursday, The Fly reports.

Several other analysts have also recently issued reports on HPQ. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, December 1st. ValuEngine cut HP from a “sell” rating to a “strong sell” rating in a report on Thursday, October 8th. Bank of America upped their price objective on HP from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Wednesday, November 25th. JPMorgan Chase & Co. upped their price objective on HP from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, November 25th. Finally, UBS Group increased their price target on HP from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. HP has an average rating of “Hold” and a consensus price target of $21.08.

HPQ stock opened at $25.71 on Thursday. HP has a 1-year low of $12.54 and a 1-year high of $26.15. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.61 and a beta of 1.07. The business has a 50 day simple moving average of $23.91 and a two-hundred day simple moving average of $19.92.

HP (NYSE:HPQ) last posted its quarterly earnings results on Monday, November 23rd. The computer maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.10. HP had a negative return on equity of 196.27% and a net margin of 5.02%. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities analysts predict that HP will post 2.65 EPS for the current fiscal year.

In related news, insider Alex Cho sold 10,496 shares of the company’s stock in a transaction dated Thursday, November 19th. The stock was sold at an average price of $20.36, for a total value of $213,698.56. Following the completion of the sale, the insider now directly owns 56,652 shares of the company’s stock, valued at approximately $1,153,434.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 256,167 shares of the company’s stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $24.07, for a total value of $6,165,939.69. Following the completion of the sale, the insider now directly owns 602,014 shares of the company’s stock, valued at $14,490,476.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,347 shares of company stock valued at $10,445,257. Insiders own 0.28% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. National Asset Management Inc. grew its position in shares of HP by 1.3% in the third quarter. National Asset Management Inc. now owns 38,676 shares of the computer maker’s stock valued at $731,000 after purchasing an additional 515 shares during the period. Old Port Advisors lifted its stake in HP by 5.0% during the fourth quarter. Old Port Advisors now owns 12,057 shares of the computer maker’s stock worth $291,000 after purchasing an additional 579 shares during the period. Seeyond lifted its stake in HP by 2.0% during the third quarter. Seeyond now owns 30,050 shares of the computer maker’s stock worth $571,000 after purchasing an additional 592 shares during the period. NN Investment Partners Holdings N.V. lifted its stake in HP by 0.4% during the third quarter. NN Investment Partners Holdings N.V. now owns 164,497 shares of the computer maker’s stock worth $3,123,000 after purchasing an additional 601 shares during the period. Finally, American National Bank increased its holdings in shares of HP by 2.3% during the third quarter. American National Bank now owns 28,194 shares of the computer maker’s stock worth $535,000 after buying an additional 640 shares in the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

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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