HP Inc. (NYSE:HPQ) Receives $35.55 Consensus Price Target from Analysts

HP Inc. (NYSE:HPQ - Get Free Report) has earned a consensus rating of "Hold" from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $35.55.

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Bank of America cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Citigroup cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. Barclays reduced their target price on shares of HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. Finally, Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, September 5th.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HP

Institutional investors have recently modified their holdings of the company. Sawyer & Company Inc raised its position in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker's stock valued at $30,000 after buying an additional 900 shares during the last quarter. Rise Advisors LLC grew its holdings in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker's stock valued at $32,000 after purchasing an additional 839 shares during the period. Triad Wealth Partners LLC purchased a new stake in HP in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HP in the second quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in HP in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Price Performance

Shares of HP stock traded down $0.47 during trading hours on Tuesday, hitting $36.97. The company had a trading volume of 6,494,914 shares, compared to its average volume of 7,939,898. The company's 50-day moving average is $35.00 and its two-hundred day moving average is $33.71. HP has a twelve month low of $25.67 and a twelve month high of $39.52. The company has a market cap of $36.18 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. Sell-side analysts expect that HP will post 3.39 EPS for the current year.

HP declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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.