HP Inc. (NYSE:HPQ) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $17.76 price objective on the computer maker’s stock. Vetr‘s price objective would suggest a potential upside of 17.23% from the stock’s previous close.
Several other research analysts also recently issued reports on HPQ. Jefferies Group reaffirmed a “buy” rating and set a $16.75 price objective on shares of HP in a report on Tuesday, September 13th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price objective (up previously from $12.00) on shares of HP in a report on Monday, August 22nd. Royal Bank Of Canada upped their price objective on HP from $12.00 to $14.00 and gave the stock a “sector perform” rating in a report on Monday, August 22nd. Mizuho upped their price objective on HP from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, October 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price objective (up previously from $15.00) on shares of HP in a report on Friday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $15.84.
Shares of HP (NYSE:HPQ) opened at 15.15 on Monday. HP has a 12 month low of $8.91 and a 12 month high of $16.19. The stock has a 50 day moving average price of $14.91 and a 200 day moving average price of $14.11. The firm has a market cap of $25.94 billion, a PE ratio of 10.58 and a beta of 1.53.
HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. HP’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, equities research analysts expect that HP will post $1.60 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.1327 dividend. This is a boost from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, December 12th. HP’s dividend payout ratio is currently 35.21%.
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In other HP news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares in the last quarter. Thompson Investment Management Inc. boosted its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of HP by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 54,120 shares of the computer maker’s stock valued at $840,000 after buying an additional 150 shares in the last quarter. FineMark National Bank & Trust boosted its position in shares of HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares in the last quarter. Finally, Conning Inc. boosted its position in shares of HP by 0.4% in the third quarter. Conning Inc. now owns 44,375 shares of the computer maker’s stock valued at $689,000 after buying an additional 190 shares in the last quarter. 76.75% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
To view Vetr’s full report, visit Vetr’s official website.
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