Today: The HP Inc. (HPQ) Raised to Strong-Buy at Vetr Inc.

The HP Inc. (HPQ) Raised to Strong-Buy at Vetr Inc.

HP Inc. (NYSE:HPQ) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage presently has a $17.76 target price on the computer maker’s stock. Vetr‘s price target suggests a potential upside of 17.00% from the company’s previous close.

Several other research analysts have also commented on HPQ. Barclays PLC raised their price objective on shares of HP from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 price target on shares of HP in a research note on Tuesday, September 13th. Jefferies Group lifted their price target on shares of HP from $16.00 to $16.75 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price target on shares of HP in a research note on Thursday, August 25th. Finally, BMO Capital Markets lifted their price target on shares of HP from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Thursday, August 25th. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.84.

Shares of HP (NYSE:HPQ) opened at 15.18 on Monday. The stock has a market capitalization of $25.97 billion, a P/E ratio of 8.08 and a beta of 1.53. The stock has a 50 day moving average of $14.95 and a 200 day moving average of $14.03. HP has a 12-month low of $8.91 and a 12-month high of $16.19.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business earned $12.50 billion during the quarter, compared to analyst estimates of $11.89 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that HP will post $1.60 EPS for the current fiscal year.

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

In related news, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Exxonmobil Investment Management Inc. TX increased its position in shares of 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. Quotient Investors LLC purchased a new position in shares of HP during the second quarter valued at $630,000. Visionary Asset Management Inc. increased its position in shares of HP by 3.0% in the second quarter. Visionary Asset Management Inc. now owns 219,612 shares of the computer maker’s stock valued at $2,760,000 after buying an additional 6,466 shares during the last quarter. New Century Advisors LLC increased its position in shares of HP by 28.6% in the second quarter. New Century Advisors LLC now owns 224,800 shares of the computer maker’s stock valued at $2,819,000 after buying an additional 50,000 shares during the last quarter. Finally, Adams Asset Advisors LLC increased its position in shares of HP by 9.0% in the second quarter. Adams Asset Advisors LLC now owns 237,390 shares of the computer maker’s stock valued at $2,979,000 after buying an additional 19,520 shares during the last quarter. 79.49% of the stock is owned by hedge funds and other institutional investors.

About HP

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.

Related posts

Leave a Comment