Hewlett Packard Enterprise (NYSE:HPE) Upgraded to “Buy” at Bank of America

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $24.00 price target on the technology company’s stock, up from their previous price target of $21.00. Bank of America‘s price objective indicates a potential upside of 39.29% from the stock’s current price.

HPE has been the subject of several other reports. Wells Fargo & Company boosted their price objective on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Susquehanna reiterated a “neutral” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, September 6th. UBS Group raised their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Loop Capital lifted their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a report on Monday, September 9th. Finally, Argus raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, June 7th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.08.

Hewlett Packard Enterprise Stock Up 0.5 %

Shares of NYSE HPE opened at $17.23 on Tuesday. Hewlett Packard Enterprise has a 1 year low of $14.47 and a 1 year high of $22.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.97 and a beta of 1.19. The stock’s 50-day simple moving average is $18.91 and its 200-day simple moving average is $18.59.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, equities analysts anticipate that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Hewlett Packard Enterprise

A number of institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC raised its holdings in Hewlett Packard Enterprise by 253.9% during the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,051 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Hewlett Packard Enterprise by 571.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock worth $28,000 after buying an additional 1,143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in Hewlett Packard Enterprise during the fourth quarter valued at about $35,000. Finally, American National Bank grew its holdings in Hewlett Packard Enterprise by 89.4% during the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock worth $35,000 after acquiring an additional 920 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.