Daiwa Capital Markets Downgrades Hewlett Packard Enterprise (NYSE:HPE) to Neutral

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) was downgraded by equities research analysts at Daiwa Capital Markets from an "outperform" rating to a "neutral" rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $16.00 target price on the technology company's stock. Daiwa Capital Markets' price objective would indicate a potential upside of 4.04% from the company's previous close.

HPE has been the topic of several other reports. Bank of America decreased their target price on shares of Hewlett Packard Enterprise from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Susquehanna decreased their target price on shares of Hewlett Packard Enterprise from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Raymond James upgraded shares of Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $23.00 to $29.00 in a research report on Monday, November 18th. Stifel Nicolaus lifted their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, Barclays cut their price target on Hewlett Packard Enterprise from $27.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.27.

Remove Ads

Hewlett Packard Enterprise Stock Performance

NYSE:HPE opened at $15.38 on Wednesday. The firm's fifty day moving average price is $21.22 and its 200 day moving average price is $20.68. Hewlett Packard Enterprise has a 1-year low of $14.85 and a 1-year high of $24.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Insiders Place Their Bets

In other news, SVP Jeremy Cox sold 11,577 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now owns 48,615 shares of the company's stock, valued at approximately $1,118,145. This represents a 19.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Hewlett Packard Enterprise by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 32,173,982 shares of the technology company's stock valued at $686,011,000 after purchasing an additional 681,242 shares during the period. Pacer Advisors Inc. grew its holdings in Hewlett Packard Enterprise by 18.1% during the third quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company's stock worth $560,274,000 after acquiring an additional 4,194,213 shares during the period. Northern Trust Corp grew its holdings in Hewlett Packard Enterprise by 24.7% during the fourth quarter. Northern Trust Corp now owns 16,184,240 shares of the technology company's stock worth $345,534,000 after acquiring an additional 3,208,424 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hewlett Packard Enterprise by 6.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company's stock worth $321,149,000 after acquiring an additional 921,624 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Hewlett Packard Enterprise during the fourth quarter worth about $292,959,000. 80.78% of the stock is owned by institutional investors and hedge funds.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.