HP (NYSE:HPQ) Given New $38.00 Price Target at TD Cowen

HP (NYSE:HPQ) had its price objective decreased by research analysts at TD Cowen from $39.00 to $38.00 in a report released on Friday,Briefing.com Automated Import reports. The brokerage presently has a “hold” rating on the computer maker’s stock. TD Cowen’s target price would indicate a potential upside of 14.65% from the stock’s current price.

Several other equities research analysts have also recently weighed in on HPQ. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Morgan Stanley cut their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, HP currently has an average rating of “Hold” and an average price target of $36.50.

HP Stock Performance

Shares of NYSE:HPQ opened at $33.15 on Friday. HP has a 52 week low of $27.42 and a 52 week high of $39.79. The firm has a market cap of $31.08 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The firm’s fifty day moving average is $33.15 and its 200-day moving average is $34.86.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Sell-side analysts forecast that HP will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other news, insider Alex Cho sold 40,287 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,737 shares of company stock worth $9,316,641. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in HP in the 3rd quarter valued at about $25,000. Synergy Asset Management LLC bought a new position in shares of HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of HP during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in HP during the fourth quarter worth $36,000. Finally, OFI Invest Asset Management purchased a new position in HP in the fourth quarter worth $37,000. 77.53% of the stock is owned by institutional investors.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.