Today, HP Inc. (HPQ) Cut to Buy at Vetr Inc.

Today, HP Inc. (HPQ) Cut to Buy at Vetr Inc.
HP Inc. (NYSE:HPQ) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $17.76 price target on the computer maker’s stock. Vetr‘s price target indicates a potential upside of 17.00% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $19.00 price target on shares of HP in a report on Friday, August 12th. Argus upped their price target on shares of HP from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 29th. Jefferies Group upped their price target on shares of HP from $16.00 to $16.75 and gave the company a “buy” rating in a report on Thursday, August 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $15.00 price target on shares of HP in a report on Thursday, August 25th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $18.00 price target on shares of HP in a report on Tuesday, September 13th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. HP has an average rating of “Hold” and a consensus price target of $15.73.

Shares of HP (NYSE:HPQ) traded up 2.08% during midday trading on Monday, hitting $15.18. The stock had a trading volume of 8,875,184 shares. The stock has a market cap of $25.97 billion, a PE ratio of 8.08 and a beta of 1.53. HP has a 52-week low of $8.91 and a 52-week high of $16.19. The firm has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.00.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities analysts predict that HP will post $1.60 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio (DPR) is 35.21%.

In other HP news, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the completion of the transaction, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Wealthsource Partners LLC boosted its position in shares of HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock valued at $206,000 after buying an additional 2,196 shares in the last quarter. Assetmark Inc. boosted its position in shares of HP by 7.0% in the second quarter. Assetmark Inc. now owns 62,341 shares of the computer maker’s stock valued at $782,000 after buying an additional 4,058 shares in the last quarter. Flippin Bruce & Porter Inc. boosted its position in shares of HP by 6.3% in the second quarter. Flippin Bruce & Porter Inc. now owns 370,701 shares of the computer maker’s stock valued at $4,652,000 after buying an additional 21,915 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of HP during the second quarter valued at approximately $26,430,000. Finally, Thompson Investment Management Inc. boosted its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares in the last quarter. 79.49% of the stock is owned by institutional investors.

HP Company Profile

HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.

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