HP (NYSE:HPQ) Rating Increased to Buy at StockNews.com

HP (NYSE:HPQ - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also recently issued reports 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. Morgan Stanley lowered their price target on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a report on Friday, February 28th. HSBC downgraded shares of HP from a "buy" rating to a "hold" rating and lowered their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.14.

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HP Stock Down 0.8 %

Shares of NYSE HPQ traded down $0.23 during midday trading on Tuesday, hitting $28.68. The company had a trading volume of 5,001,454 shares, compared to its average volume of 7,114,500. HP has a twelve month low of $27.43 and a twelve month high of $39.80. The business has a 50-day simple moving average of $32.26 and a two-hundred day simple moving average of $34.37. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, equities analysts forecast that HP will post 3.56 EPS for the current year.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company's stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On HP

Several large investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of HP by 8.2% in the 3rd 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 holdings in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after buying an additional 579,525 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock worth $482,164,000 after buying an additional 592,391 shares during the period. Northern Trust Corp boosted its holdings in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after buying an additional 1,755,942 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock worth $310,351,000 after buying an additional 643,192 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

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.