HP (NYSE:HPQ) Stock Gets Downgrade from Zacks Research

HP (NYSE:HPQ) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Several other research firms have also commented on HPQ. UBS Group lifted their price target on HP from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. The Goldman Sachs Group upped their price objective on HP from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein restated a “market perform” rating and set a $32.00 price objective on shares of HP in a research report on Thursday, August 27th. Bank of America reaffirmed an “underperform” rating on shares of HP in a research note on Thursday, August 27th. Finally, Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, HP currently has an average rating of “Reduce” and an average price target of $25.42.

HP Stock Down 3.4%

HPQ stock opened at $32.44 on Tuesday. HP has a 52 week low of $17.56 and a 52 week high of $36.22. The company has a fifty day simple moving average of $31.70 and a two-hundred day simple moving average of $24.45. The firm has a market capitalization of $29.25 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, analysts anticipate that HP will post 3.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider David McQuarrie sold 31,572 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total value of $1,014,092.64. Following the sale, the insider owned 8,008 shares of the company’s stock, valued at approximately $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 63,144 shares of company stock worth $1,938,521 in the last quarter. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On HP

Several institutional investors have recently made changes to their positions in HPQ. Callan Family Office LLC purchased a new stake in HP in the second quarter worth about $3,029,000. BlackRock Inc. purchased a new position in HP during the 2nd quarter valued at about $2,357,757,000. Caxton Associates LLP increased its position in HP by 625.6% during the 1st quarter. Caxton Associates LLP now owns 172,893 shares of the computer maker’s stock valued at $3,321,000 after purchasing an additional 149,067 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of HP in the 1st quarter valued at about $2,070,000. Finally, Vest Financial LLC raised its holdings in shares of HP by 51.6% in the 2nd quarter. Vest Financial LLC now owns 372,407 shares of the computer maker’s stock valued at $8,171,000 after purchasing an additional 126,811 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

About HP

HP Inc (NYSE: HPQ) is a global technology company that develops personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, peripherals, printers, digital printing systems, and related supplies such as ink and toner.

The company serves consumers, small and medium-sized businesses, large enterprises, and public-sector organizations through direct sales, online channels, retailers, distributors, and other business partners.