HP (NYSE:HPQ) Stock Rating Lowered by Credit Suisse Group

HP (NYSE:HPQGet Rating) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They presently have a $33.00 price objective on the computer maker’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 11.94% from the stock’s previous close.

HPQ has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target on HP from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, August 31st. Sanford C. Bernstein reduced their price objective on HP from $40.00 to $30.00 in a report on Tuesday, September 20th. Evercore ISI reduced their price objective on HP to $33.00 in a report on Tuesday, September 6th. Cowen reduced their price objective on HP from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, August 31st. Finally, Citigroup reduced their price objective on HP from $37.00 to $33.00 in a report on Wednesday, August 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.93.

HP Price Performance

HP stock opened at $29.48 on Friday. HP has a 1-year low of $24.08 and a 1-year high of $41.47. The company has a market cap of $29.66 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 2.96 and a beta of 0.99. The stock’s 50 day moving average price is $26.95 and its 200 day moving average price is $31.50.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings results on Tuesday, August 30th. The computer maker reported $1.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.04. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The firm had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same period in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that HP will post 4.08 EPS for the current fiscal year.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $25.23, for a total value of $857,820.00. Following the completion of the transaction, the chief executive officer now directly owns 517,204 shares of the company’s stock, valued at $13,049,056.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On HP

Several institutional investors have recently added to or reduced their stakes in HPQ. GHP Investment Advisors Inc. acquired a new position in HP in the second quarter valued at $26,000. Old North State Trust LLC purchased a new stake in HP during the third quarter valued at about $26,000. Certified Advisory Corp purchased a new stake in HP during the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in HP during the third quarter valued at about $27,000. Finally, Exchange Traded Concepts LLC grew its position in HP by 665.7% during the third quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock valued at $27,000 after acquiring an additional 932 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

About HP

(Get Rating)

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.

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