Bank of America Cuts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $20.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price dropped by investment analysts at Bank of America from $26.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Bank of America‘s price target indicates a potential upside of 31.01% from the stock’s previous close.

A number of other brokerages have also commented on HPE. Deutsche Bank Aktiengesellschaft raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Thursday, December 19th. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $23.00 to $29.00 in a research report on Monday, November 18th. Loop Capital increased their price objective on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Morgan Stanley raised shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $23.00 to $28.00 in a research report on Thursday, December 5th. Finally, Stifel Nicolaus lifted their price objective on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.21.

Hewlett Packard Enterprise Stock Down 15.0 %

Shares of HPE opened at $15.27 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. Hewlett Packard Enterprise has a 52 week low of $14.09 and a 52 week high of $24.66. The stock has a market capitalization of $20.05 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 2.03 and a beta of 1.19. The stock has a fifty day moving average of $21.58 and a 200-day moving average of $20.73.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares of the company’s stock, valued at $1,118,145. This represents a 19.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary M. Reiner sold 50,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.47, for a total value of $1,173,500.00. Following the sale, the director now owns 104,192 shares in the company, valued at $2,445,386.24. This trade represents a 32.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 324,395 shares of company stock worth $7,121,896 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of hedge funds have recently modified their holdings of HPE. RPg Family Wealth Advisory LLC purchased a new stake in Hewlett Packard Enterprise in the third quarter worth $25,000. Putney Financial Group LLC purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Hewlett Packard Enterprise in the 3rd quarter worth approximately $26,000. Hara Capital LLC purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $28,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Hewlett Packard Enterprise in the 4th quarter worth approximately $31,000. Institutional investors own 80.78% of the company’s stock.

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.