Trade Report: The RBC Capital Markets Reiterates “Sector Perform” Rating for HP Inc. (HPQ)

The RBC Capital Markets Reiterates “Sector Perform” Rating for HP Inc. (HPQ)

HP Inc. (NYSE:HPQ)‘s stock had its “sector perform” rating reissued by RBC Capital Markets in a note issued to investors on Monday. They presently have a $16.00 price objective on the computer maker’s stock, up from their prior price objective of $14.00. RBC Capital Markets’ price objective would suggest a potential upside of 3.63% from the stock’s current price.

A number of other analysts also recently commented on HPQ. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price objective on shares of HP in a report on Tuesday, June 21st. Credit Suisse Group AG restated a “buy” rating and set a $19.00 price objective on shares of HP in a report on Wednesday, June 22nd. Citigroup Inc. restated a “neutral” rating and set a $13.00 price objective on shares of HP in a report on Wednesday, June 22nd. Jefferies Group restated a “buy” rating and set a $14.50 price objective on shares of HP in a report on Thursday, June 23rd. Finally, Sterne Agee CRT restated a “neutral” rating and set a $12.00 price objective on shares of HP in a report on Thursday, June 23rd. Eighteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. HP presently has an average rating of “Hold” and an average price target of $15.15.

Shares of HP (NYSE:HPQ) opened at 15.44 on Monday. The firm has a 50-day moving average price of $14.85 and a 200-day moving average price of $13.43. The firm has a market capitalization of $26.42 billion, a PE ratio of 8.22 and a beta of 1.55. HP has a 1-year low of $8.91 and a 1-year high of $15.88.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. On average, analysts forecast that HP will post $1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were paid a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio is 26.74%.

In related 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,096,939. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock worth $240,000 after buying an additional 513 shares in the last quarter. Fisher Asset Management LLC raised its position in HP by 9.8% in the third quarter. Fisher Asset Management LLC now owns 15,844 shares of the computer maker’s stock worth $246,000 after buying an additional 1,409 shares in the last quarter. Dorsey Wright & Associates purchased a new position in HP during the third quarter worth approximately $1,946,000. Advisory Services Network LLC raised its position in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares in the last quarter. Finally, First American Bank purchased a new position in HP during the third quarter worth approximately $2,095,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

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