HP (NYSE:HPQ) Rating Lowered to “Hold” at Dbs Bank

HP (NYSE:HPQ) was downgraded by equities researchers at Dbs Bank from a “moderate buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

HPQ has been the subject of several other reports. JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Bank of America dropped their target price on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. TD Cowen dropped their price target on HP from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Morgan Stanley dropped their price target on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Finally, KGI Securities began coverage on HP in a research note on Thursday, May 29th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.54.

HP Stock Performance

Shares of NYSE HPQ opened at $24.72 on Wednesday. The firm has a market capitalization of $23.22 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock’s 50-day simple moving average is $25.69 and its 200-day simple moving average is $29.93.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. On average, sell-side analysts forecast that HP will post 3.56 earnings per share for the current fiscal year.

Insider Activity at HP

In related news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Institutional Trading of HP

A number of institutional investors have recently bought and sold shares of HPQ. Geode Capital Management LLC raised its holdings in HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after buying an additional 579,525 shares in the last quarter. Northern Trust Corp increased its stake in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the period. Invesco Ltd. increased its stake in shares of HP by 19.2% in the first quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker’s stock worth $314,022,000 after purchasing an additional 1,829,411 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of HP by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,013,184 shares of the computer maker’s stock worth $277,265,000 after purchasing an additional 724,020 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker’s stock worth $303,105,000 after purchasing an additional 707,742 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

About HP

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.