HP (NYSE:HPQ) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

HP (NYSE:HPQ) had its price target boosted by Sanford C. Bernstein from $32.00 to $34.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the computer maker’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 3.75% from the stock’s previous close.

HPQ has been the subject of several other reports. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Citigroup dropped their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $36.23.

HP Stock Up 0.9 %

Shares of HPQ traded up $0.30 during trading on Friday, reaching $32.77. The company’s stock had a trading volume of 437,258 shares, compared to its average volume of 2,490,932. The company has a market cap of $31.58 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.95 and a beta of 1.04. HP has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a fifty day moving average of $35.58 and a two-hundred day moving average of $35.55.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. As a group, equities analysts forecast that HP will post 3.56 EPS for the current fiscal year.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 in the last 90 days. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its stake in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Company Profile

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.