Zacks Research Upgrades HP (NYSE:HPQ) to Hold

HP (NYSE:HPQ) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

HPQ has been the subject of a number of other reports. Bank of America reissued an “underperform” rating and set a $20.00 target price (down from $26.00) on shares of HP in a research note on Tuesday, February 3rd. Barclays lowered their target price on HP from $18.00 to $16.00 and set an “underweight” rating for the company in a research note on Wednesday, February 25th. Evercore set a $22.00 target price on HP in a research note on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of HP in a research note on Thursday, January 22nd. Finally, Citigroup lowered their target price on HP from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $21.58.

HP Stock Performance

NYSE HPQ traded down $0.01 during trading hours on Monday, reaching $18.61. 2,793,205 shares of the company’s stock were exchanged, compared to its average volume of 19,452,063. The company’s 50-day moving average is $18.99 and its two-hundred day moving average is $22.63. HP has a one year low of $17.56 and a one year high of $29.55. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 5.42 and a beta of 1.11.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, February 24th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. HP had a negative return on equity of 367.41% and a net margin of 4.46%.The business had revenue of $14.44 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the business earned $0.74 EPS. HP’s revenue for the quarter was up 6.9% compared to the same quarter last year. HP has set its Q2 2026 guidance at 0.700-0.760 EPS. Research analysts predict that HP will post 3.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HP

Several hedge funds have recently made changes to their positions in HPQ. DNB Asset Management AS grew its stake in shares of HP by 242.2% during the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock worth $236,048,000 after acquiring an additional 7,498,202 shares in the last quarter. Norges Bank bought a new position in shares of HP in the fourth quarter valued at $149,309,000. Arrowstreet Capital Limited Partnership grew its stake in shares of HP by 186.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker’s stock valued at $228,153,000 after buying an additional 5,449,691 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of HP by 143.4% in the third quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker’s stock valued at $244,527,000 after buying an additional 5,325,260 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of HP by 626.6% in the fourth quarter. Renaissance Technologies LLC now owns 4,948,700 shares of the computer maker’s stock valued at $110,257,000 after buying an additional 4,267,600 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

HP Company Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.