HP (NYSE:HPQ) Price Target Raised to $27.00 at Maxim Group

HP (NYSE:HPQ) had its price objective hoisted by research analysts at Maxim Group from $25.00 to $27.00 in a research note issued on Friday, February 23rd, MarketBeat Ratings reports. The firm currently has a “hold” rating on the computer maker’s stock. Maxim Group’s price objective suggests a potential upside of 15.98% from the company’s previous close.

Several other equities analysts also recently weighed in on HPQ. Wells Fargo started coverage on HP in a research report on Tuesday, November 14th. They set a “market perform” rating and a $21.00 target price on the stock. BMO Capital Markets increased their target price on HP to $23.00 and gave the stock a “positive” rating in a research report on Wednesday, November 22nd. Deutsche Bank reiterated a “buy” rating and set a $25.00 target price on shares of HP in a research report on Wednesday, November 22nd. Royal Bank of Canada restated a “hold” rating on shares of HP in a report on Wednesday, November 22nd. Finally, Morgan Stanley restated a “hold” rating and issued a $14.00 price objective on shares of HP in a report on Wednesday, November 22nd. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. HP currently has an average rating of “Buy” and an average price target of $23.94.

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Shares of HP (NYSE HPQ) remained flat at $$23.28 during mid-day trading on Friday. The company’s stock had a trading volume of 6,337,545 shares, compared to its average volume of 10,741,592. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of -2.31. The stock has a market cap of $38,079.88, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.69. HP has a fifty-two week low of $17.03 and a fifty-two week high of $24.75.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 22nd. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. HP had a negative return on equity of 82.30% and a net margin of 7.15%. The business had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. research analysts expect that HP will post 1.93 EPS for the current year.

In related news, insider Enrique Lores sold 302,893 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $23.31, for a total value of $7,060,435.83. Following the sale, the insider now owns 88,901 shares of the company’s stock, valued at approximately $2,072,282.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ron Coughlin sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $22.50, for a total value of $337,500.00. Following the completion of the sale, the insider now directly owns 130,766 shares in the company, valued at approximately $2,942,235. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 545,699 shares of company stock worth $12,306,389. 0.25% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Swiss National Bank raised its stake in HP by 0.6% during the 3rd quarter. Swiss National Bank now owns 6,208,592 shares of the computer maker’s stock valued at $123,923,000 after acquiring an additional 34,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in HP by 3.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 163,752 shares of the computer maker’s stock valued at $3,440,000 after acquiring an additional 5,168 shares in the last quarter. Meyer Handelman Co. raised its stake in HP by 3.1% during the 3rd quarter. Meyer Handelman Co. now owns 449,414 shares of the computer maker’s stock valued at $8,971,000 after acquiring an additional 13,600 shares in the last quarter. State of Wisconsin Investment Board raised its stake in HP by 43.9% during the 3rd quarter. State of Wisconsin Investment Board now owns 2,151,950 shares of the computer maker’s stock valued at $42,953,000 after acquiring an additional 656,546 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in HP by 17.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,829,133 shares of the computer maker’s stock valued at $96,389,000 after acquiring an additional 716,899 shares in the last quarter. 80.33% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for HP (NYSE:HPQ)

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