HP (NYSE:HPQ) Given New $30.00 Price Target at Loop Capital

HP (NYSE:HPQ - Get Free Report) had its price objective decreased by equities research analysts at Loop Capital from $35.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the computer maker's stock. Loop Capital's target price would indicate a potential downside of 1.82% from the company's previous close.

Several other equities research analysts have also issued reports on HPQ. Hsbc Global Res lowered shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. HSBC lowered shares of HP from a "buy" rating to a "hold" rating and lowered their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Barclays upped their target price on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.14.

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HP Trading Up 2.0 %

NYSE HPQ traded up $0.59 during trading on Tuesday, reaching $30.56. The company's stock had a trading volume of 10,995,429 shares, compared to its average volume of 6,844,905. The stock has a market capitalization of $28.80 billion, a PE ratio of 10.87, a PEG ratio of 2.96 and a beta of 1.09. The business has a 50-day moving average price of $32.76 and a 200-day moving average price of $34.65. HP has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The firm 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%. As a group, analysts expect that HP will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company's stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now directly owns 56,169 shares of the company's stock, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 262,737 shares of company stock valued at $9,316,641. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HP

Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. State Street Corp raised its stake in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the period. Pacer Advisors Inc. lifted its position in shares of HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock valued at $482,164,000 after acquiring an additional 592,391 shares during the period. Northern Trust Corp raised its holdings in HP by 15.8% during 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 last quarter. Finally, Invesco Ltd. raised its holdings in HP by 7.3% during 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 last quarter. 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.