Wall Street Zen lowered shares of HP (NYSE:HPQ – Free Report) from a buy rating to a hold rating in a research note published on Sunday,Wall Street Zen reports.
Other analysts have also issued research reports about the stock. Royal Bank Of Canada initiated coverage on shares of HP in a research note on Thursday, September 10th. They set a “sector perform” rating and a $33.00 target price for the company. HSBC increased their target price on shares of HP from $29.60 to $33.80 and gave the stock a “buy” rating in a report on Monday, August 31st. TD Cowen raised their price target on shares of HP from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Loop Capital lifted their price target on shares of HP from $25.00 to $30.00 and gave the company a “hold” rating in a report on Friday, August 28th. Finally, Morgan Stanley boosted their price objective on shares of HP from $17.00 to $19.00 in a research report on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of “Hold” and a consensus target price of $26.30.
HP Trading Up 0.1%
Shares of HPQ opened at $28.49 on Friday. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.56 and a beta of 1.16. The stock has a 50 day moving average of $31.65 and a 200-day moving average of $24.75. HP has a 52 week low of $17.56 and a 52 week high of $36.22.
HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. HP had a negative return on equity of 947.78% and a net margin of 4.14%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.44 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, sell-side analysts predict that HP will post 3.23 earnings per share for the current fiscal year.
Insider Activity at HP
In related news, insider Anneliese Olson sold 18,997 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $32.56, for a total transaction of $618,542.32. Following the completion of the transaction, the insider owned 169 shares in the company, valued at $5,502.64. The trade was a 99.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David McQuarrie sold 31,572 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $32.12, for a total value of $1,014,092.64. Following the transaction, the insider owned 8,008 shares of the company’s stock, valued at approximately $257,216.96. The trade was a 79.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.18% of the company’s stock.
Hedge Funds Weigh In On HP
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. BlackRock Inc. bought a new stake in shares of HP during the second quarter valued at approximately $2,357,757,000. State Street Corp boosted its position in shares of HP by 1.5% during the second quarter. State Street Corp now owns 52,843,678 shares of the computer maker’s stock worth $1,174,855,000 after buying an additional 757,961 shares during the period. Primecap Management Co. CA bought a new position in HP in the 2nd quarter worth approximately $545,984,000. Pacer Advisors Inc. grew its holdings in HP by 42.8% in the 1st quarter. Pacer Advisors Inc. now owns 9,145,694 shares of the computer maker’s stock worth $175,689,000 after buying an additional 2,741,438 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in HP by 3.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,736,665 shares of the computer maker’s stock worth $191,682,000 after buying an additional 254,828 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.
About HP
HP Inc is a global technology company that develops and sells personal computing and printing products and services. Its offerings include laptops, desktop computers, workstations, displays, accessories and peripherals, as well as printers, printing supplies and related solutions for consumers, businesses and public-sector customers.
The company organizes its business around Personal Systems and Printing. In addition to hardware, HP provides services and solutions such as device management and managed print services, and it offers technologies for commercial and industrial printing.
HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.
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