Recent Investment Analysts’ Ratings Changes for HP (HPQ)

A number of firms have modified their ratings and price targets on shares of HP (NYSE: HPQ) recently:

• 9/5/2024 – HP had its price target lowered by analysts at Loop Capital from $37.00 to $35.00. They now have a “hold” rating on the stock.
• 8/29/2024 – HP had its price target raised by analysts at UBS Group AG from $34.00 to $37.00. They now have a “neutral” rating on the stock.
• 8/29/2024 – HP had its price target lowered by analysts at Barclays PLC from $33.00 to $32.00. They now have an “equal weight” rating on the stock.
• 8/29/2024 – HP had its price target lowered by analysts at Morgan Stanley from $37.00 to $36.00. They now have an “equal weight” rating on the stock.
• 8/23/2024 – HP had its price target raised by analysts at JPMorgan Chase & Co. from $38.00 to $42.00. They now have an “overweight” rating on the stock.
• 8/19/2024 – HP was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $37.00 price target on the stock.

HP Stock Down 0.8 %

HPQ opened at $33.11 on Friday. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The firm has a 50 day moving average price of $35.32 and a 200-day moving average price of $32.79. The stock has a market capitalization of $31.90 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the previous year, the company earned $0.86 earnings per share. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

A number of institutional investors have recently added to or reduced their stakes in the stock. Sawyer & Company Inc boosted its stake in HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares during the last quarter. Rise Advisors LLC boosted its position in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of HP in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP in the second quarter worth $34,000. Finally, DecisionPoint Financial LLC purchased a new stake in HP during the second quarter valued at $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

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.