Trade Report: The HP Inc. (HPQ) Given Buy Rating at Credit Suisse Group AG

The HP Inc. (HPQ) Given Buy Rating at Credit Suisse Group AG

HP Inc. (NYSE:HPQ)‘s stock had its “buy” rating reissued by equities researchers at Credit Suisse Group AG in a research report issued on Sunday. They presently have a $19.00 price target on the computer maker’s stock. Credit Suisse Group AG’s price target points to a potential upside of 21.95% from the stock’s previous close.

A number of other brokerages have also recently issued reports on HPQ. FBN Securities reissued a “sector perform” rating on shares of HP in a report on Thursday, September 8th. Jefferies Group reissued a “buy” rating and issued a $16.75 target price on shares of HP in a report on Wednesday, September 7th. Vetr cut shares of HP from a “strong-buy” rating to a “buy” rating and set a $16.12 target price on the stock. in a report on Monday, September 19th. Morgan Stanley reissued a “buy” rating on shares of HP in a report on Tuesday, September 13th. Finally, Brean Capital reissued a “buy” rating and issued a $18.00 target price on shares of HP in a report on Tuesday, September 13th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. HP presently has a consensus rating of “Hold” and a consensus target price of $14.76.

Shares of HP (NYSE:HPQ) opened at 15.58 on Friday. HP has a 12-month low of $8.91 and a 12-month high of $15.74. The firm has a market cap of $26.66 billion, a PE ratio of 8.30 and a beta of 1.55. The company has a 50 day moving average price of $14.79 and a 200-day moving average price of $13.38.

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HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same quarter last year, the company posted $0.88 earnings per share. HP’s revenue was down 3.8% on a year-over-year basis. Analysts expect that HP will post $1.61 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were given a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s dividend payout ratio is 26.74%.

In other HP news, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction 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 owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPQ. Zebra Capital Management LLC raised its position in HP by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock worth $1,059,000 after buying an additional 57,940 shares in the last quarter. Geode Capital Management LLC increased its position in HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock valued at $185,720,000 after buying an additional 799,445 shares during the last quarter. Wealthsource Partners LLC bought a new position in HP during the first quarter valued at about $175,000. Exxonmobil Investment Management Inc. TX increased its position in HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock valued at $5,557,000 after buying an additional 22,392 shares during the last quarter. Finally, Quotient Investors LLC bought a new position in HP during the second quarter valued at about $630,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

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