HP Inc. (NYSE:HPQ – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Sanford C. Bernstein lowered their price target on the stock from $40.00 to $30.00. The company traded as low as $26.10 and last traded at $26.14, with a volume of 67557 shares traded. The stock had previously closed at $26.95.
A number of other equities analysts have also weighed in on HPQ. Barclays cut their price objective on shares of HP from $32.00 to $27.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. UBS Group dropped their price objective on shares of HP from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 31st. Evercore ISI decreased their price objective on shares of HP to $33.00 in a report on Tuesday, September 6th. Cowen cut their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, August 31st. Finally, Wells Fargo & Company decreased their target price on shares of HP from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.79.
Insider Activity
In other news, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the transaction, the chief financial officer now owns 13,500 shares in the company, valued at approximately $446,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HP news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the sale, the chief financial officer now owns 13,500 shares of the company’s stock, valued at $446,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,000 shares of company stock valued at $1,406,520. Insiders own 0.22% of the company’s stock.
Institutional Trading of HP
Large investors have recently bought and sold shares of the company. Central Bank & Trust Co. purchased a new stake in shares of HP during the 1st quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new position in shares of HP in the second quarter valued at $26,000. Certified Advisory Corp bought a new position in HP in the 1st quarter worth about $26,000. Blue Bell Private Wealth Management LLC grew its holdings in HP by 175.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 917 shares of the computer maker’s stock valued at $33,000 after buying an additional 584 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of HP during the first quarter valued at about $35,000. 81.17% of the stock is owned by hedge funds and other institutional investors.
HP Price Performance
The business’s fifty day moving average price is $31.49 and its 200-day moving average price is $34.65. The stock has a market capitalization of $26.40 billion, a PE ratio of 4.71, a P/E/G ratio of 2.44 and a beta of 0.96.
HP (NYSE:HPQ – Get Rating) last posted its quarterly earnings results on Tuesday, August 30th. The computer maker reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. The firm had revenue of $14.66 billion for the quarter, compared to analysts’ expectations of $15.63 billion. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, analysts expect that HP Inc. will post 4.09 earnings per share for the current fiscal year.
HP Company Profile
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.