Loop Capital Lowers HP (NYSE:HPQ) Price Target to $30.00

HP (NYSE:HPQ) had its target price reduced by stock analysts at Loop Capital from $35.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the computer maker’s stock. Loop Capital’s price target indicates a potential upside of 2.45% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Morgan Stanley cut their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup dropped their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.14.

HP Stock Down 2.5 %

Shares of NYSE HPQ traded down $0.76 during mid-day trading on Tuesday, reaching $29.28. 9,601,978 shares of the company were exchanged, compared to its average volume of 6,611,137. HP has a 1 year low of $27.42 and a 1 year high of $39.79. The firm has a 50-day moving average of $33.04 and a 200 day moving average of $34.80. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. On average, equities analysts forecast that HP will post 3.56 earnings per share for the current year.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,737 shares of company stock worth $9,316,641. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of HP in the 3rd quarter valued at $25,000. Synergy Asset Management LLC purchased a new position in HP in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP during the 4th quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of HP during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

About HP

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.