HP’s (NYSE:HPQ) “Buy” Rating Reiterated at UBS

UBS reissued their buy rating on shares of HP (NYSE:HPQ) in a report issued on Friday, February 23rd, www.benzinga.com reports. They currently have a $28.00 price objective on the computer maker’s stock, up from their previous price objective of $26.00.

A number of other equities research analysts also recently issued reports on HPQ. Maxim Group restated a hold rating and set a $25.00 price target on shares of HP in a research note on Friday, October 27th. Wells Fargo started coverage on HP in a research note on Tuesday, November 14th. They set a market perform rating and a $21.00 price objective for the company. BMO Capital Markets boosted their price objective on HP to $23.00 and gave the company a positive rating in a research note on Wednesday, November 22nd. Deutsche Bank reiterated a buy rating and set a $25.00 price objective on shares of HP in a research note on Wednesday, November 22nd. Finally, Royal Bank of Canada reissued a hold rating on shares of HP in a report on Wednesday, November 22nd. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. HP has an average rating of Buy and a consensus price target of $23.94.

HP (NYSE HPQ) remained flat at $$23.28 on Friday. The stock had a trading volume of 6,337,545 shares, compared to its average volume of 10,741,592. The company has a debt-to-equity ratio of -2.31, a quick ratio of 0.67 and a current ratio of 0.91. The stock has a market cap of $38,079.88, a PE ratio of 10.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.69. HP has a 52 week low of $17.03 and a 52 week high of $24.75.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 22nd. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $14.52 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. HP’s quarterly revenue was up 14.5% compared to the same quarter last year. sell-side analysts anticipate that HP will post 1.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be given a dividend of $0.1393 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, March 13th. HP’s payout ratio is currently 24.45%.

In other news, insider Ron Coughlin sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 130,766 shares in the company, valued at $2,942,235. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $21.20, for a total value of $212,000.00. Following the completion of the transaction, the insider now owns 11,966 shares of the company’s stock, valued at $253,679.20. 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 owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB grew its holdings in HP by 8.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 283,528 shares of the computer maker’s stock worth $5,957,000 after acquiring an additional 22,444 shares during the period. Envestnet Asset Management Inc. grew its holdings in HP by 99.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 460,062 shares of the computer maker’s stock worth $9,666,000 after acquiring an additional 229,398 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in HP by 5.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 913,660 shares of the computer maker’s stock worth $19,196,000 after acquiring an additional 46,634 shares during the period. We Are One Seven LLC acquired a new stake in HP during the fourth quarter worth about $156,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in HP by 47.9% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 115,107 shares of the computer maker’s stock valued at $2,418,000 after purchasing an additional 37,300 shares during the period. 80.33% of the stock is currently owned by hedge funds and other institutional investors.

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HP Company Profile

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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