Hewlett Packard Enterprise (NYSE:HPE) Price Target Lowered to $18.00 at Raymond James

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Hewlett Packard Enterprise (NYSE:HPE) had its price objective dropped by equities research analysts at Raymond James from $21.00 to $18.00 in a research note issued on Thursday, October 25th, Stock Target Advisor reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price objective points to a potential upside of 14.50% from the company’s previous close.

A number of other research firms have also commented on HPE. Deutsche Bank boosted their price objective on Hewlett Packard Enterprise from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, July 16th. Nomura began coverage on Hewlett Packard Enterprise in a research note on Thursday, June 28th. They set a “neutral” rating and a $16.00 price target on the stock. Maxim Group reaffirmed a “hold” rating and set a $18.00 price target on shares of Hewlett Packard Enterprise in a research note on Wednesday, August 29th. Finally, Sanford C. Bernstein downgraded Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $20.00 to $18.00 in a report on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.65.

NYSE:HPE traded down $0.53 during trading hours on Thursday, reaching $15.72. The company had a trading volume of 10,708,764 shares, compared to its average volume of 9,593,410. Hewlett Packard Enterprise has a one year low of $12.81 and a one year high of $19.48. The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.00 and a quick ratio of 0.84.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Tuesday, August 28th. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Hewlett Packard Enterprise had a return on equity of 9.38% and a net margin of 10.43%. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Research analysts expect that Hewlett Packard Enterprise will post 1.53 EPS for the current fiscal year.

In related news, insider Keerti Melkote sold 87,113 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $15.96, for a total transaction of $1,390,323.48. Following the sale, the insider now owns 102,283 shares of the company’s stock, valued at approximately $1,632,436.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy C. Stonesifer sold 479,142 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $16.57, for a total value of $7,939,382.94. Following the sale, the chief financial officer now directly owns 637,868 shares in the company, valued at approximately $10,569,472.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 787,988 shares of company stock valued at $12,972,468. Insiders own 1.18% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC grew its holdings in shares of Hewlett Packard Enterprise by 1.1% in the third quarter. Pzena Investment Management LLC now owns 34,394,158 shares of the technology company’s stock valued at $560,969,000 after acquiring an additional 390,298 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Hewlett Packard Enterprise by 19.9% in the third quarter. Ontario Teachers Pension Plan Board now owns 84,051 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 13,942 shares during the last quarter. American International Group Inc. lifted its stake in Hewlett Packard Enterprise by 2.9% in the third quarter. American International Group Inc. now owns 600,400 shares of the technology company’s stock valued at $9,793,000 after purchasing an additional 16,962 shares during the last quarter. Polaris Capital Management LLC lifted its stake in Hewlett Packard Enterprise by 14.6% in the third quarter. Polaris Capital Management LLC now owns 1,029,765 shares of the technology company’s stock valued at $16,795,000 after purchasing an additional 130,865 shares during the last quarter. Finally, Twin Tree Management LP purchased a new position in Hewlett Packard Enterprise in the third quarter valued at approximately $910,000. 82.87% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers, as well as mission-critical servers to address the full array of its customers' computing needs; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and legacy external disk products.

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