Hewlett Packard Enterprise (NYSE:HPE) Downgraded by StockNews.com to Hold

Hewlett Packard Enterprise (NYSE:HPE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also recently weighed in on HPE. Sanford C. Bernstein cut Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $20.00 to $17.00 in a report on Tuesday, January 16th. Stifel Nicolaus dropped their target price on Hewlett Packard Enterprise from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Wells Fargo & Company upped their target price on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Morgan Stanley upped their target price on Hewlett Packard Enterprise from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Evercore ISI dropped their target price on Hewlett Packard Enterprise from $19.00 to $18.00 and set an “in-line” rating for the company in a research note on Friday, March 1st. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.91.

Hewlett Packard Enterprise Stock Up 1.2 %

HPE opened at $17.17 on Friday. The business’s fifty day moving average is $17.04 and its two-hundred day moving average is $16.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.89. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 3.13 and a beta of 1.21. Hewlett Packard Enterprise has a one year low of $13.65 and a one year high of $20.07.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. Analysts anticipate that Hewlett Packard Enterprise will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jeremy Cox sold 18,323 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total value of $310,758.08. Following the sale, the senior vice president now owns 15,541 shares of the company’s stock, valued at approximately $263,575.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Hewlett Packard Enterprise

Hedge funds have recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. raised its stake in Hewlett Packard Enterprise by 12.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,447 shares of the technology company’s stock valued at $581,000 after acquiring an additional 3,686 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Hewlett Packard Enterprise by 13.2% during the fourth quarter. Raymond James & Associates now owns 932,921 shares of the technology company’s stock valued at $15,841,000 after buying an additional 108,971 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Hewlett Packard Enterprise by 17.4% during the fourth quarter. Mackenzie Financial Corp now owns 1,562,640 shares of the technology company’s stock valued at $26,534,000 after buying an additional 232,150 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Hewlett Packard Enterprise by 0.9% during the third quarter. Nordea Investment Management AB now owns 4,024,719 shares of the technology company’s stock valued at $70,272,000 after buying an additional 36,793 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Hewlett Packard Enterprise by 70.2% during the third quarter. Citigroup Inc. now owns 3,550,595 shares of the technology company’s stock valued at $61,674,000 after purchasing an additional 1,464,650 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.