Loop Capital Forecasts Strong Price Appreciation for Hewlett Packard Enterprise (NYSE:HPE) Stock

Hewlett Packard Enterprise (NYSE:HPE) had its price target boosted by equities research analysts at Loop Capital from $16.00 to $18.00 in a report released on Monday,Briefing.com Automated Import reports. The firm presently has a “hold” rating on the technology company’s stock. Loop Capital’s price target points to a potential downside of 1.93% from the stock’s previous close.

HPE has been the subject of several other research reports. Morgan Stanley upped their target price on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Barclays upped their target price on shares of Hewlett Packard Enterprise from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Evercore ISI raised shares of Hewlett Packard Enterprise from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $17.00 to $22.00 in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on shares of Hewlett Packard Enterprise from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, June 4th. Finally, Raymond James boosted their price target on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the company a “strong-buy” rating in a report on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Hewlett Packard Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.31.

Hewlett Packard Enterprise Trading Up 1.4%

Shares of Hewlett Packard Enterprise stock traded up $0.25 on Monday, hitting $18.36. 3,215,545 shares of the company’s stock traded hands, compared to its average volume of 19,261,029. The firm’s 50-day moving average price is $16.18 and its two-hundred day moving average price is $19.00. The stock has a market capitalization of $24.11 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.31. Hewlett Packard Enterprise has a one year low of $11.97 and a one year high of $24.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99.

Hewlett Packard Enterprise (NYSE:HPE) last issued its earnings results on Tuesday, June 3rd. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.51 billion. Hewlett Packard Enterprise had a net margin of 8.56% and a return on equity of 8.94%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, research analysts expect that Hewlett Packard Enterprise will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bethany Mayer sold 6,409 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $13.19, for a total value of $84,534.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several hedge funds have recently bought and sold shares of HPE. Korea Investment CORP lifted its position in Hewlett Packard Enterprise by 8.3% during the fourth quarter. Korea Investment CORP now owns 1,003,921 shares of the technology company’s stock worth $21,434,000 after acquiring an additional 77,244 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $3,598,000. Atria Investments Inc increased its stake in shares of Hewlett Packard Enterprise by 24.3% during the fourth quarter. Atria Investments Inc now owns 24,843 shares of the technology company’s stock worth $530,000 after purchasing an additional 4,864 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $374,000. Finally, Allworth Financial LP increased its stake in shares of Hewlett Packard Enterprise by 18.1% during the fourth quarter. Allworth Financial LP now owns 43,620 shares of the technology company’s stock worth $931,000 after purchasing an additional 6,680 shares during the period. 80.78% of the stock is currently 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.