2 weeks Ago By ABMN Staff
HP Inc. ( NYSE:HPQ – Get Free Report ) gapped down before the market opened on Friday . The stock had previously closed at $36.
85, but opened at $35.76. HP shares last traded at $35.
54, with a volume of 1,799,417 shares traded. Analysts Set New Price Targets A number of equities analysts have commented on HPQ shares. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.
00 target price for the company. in a report on Friday. Barclays reduced their price target on HP from $33.
00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. UBS Group upped their target price on HP from $34.
00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley dropped their price target on HP from $37.
00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Loop Capital decreased their price objective on shares of HP from $37.
00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company.
According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.
Read Our Latest Stock Analysis on HP HP Price Performance HP ( NYSE:HPQ – Get Free Report ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.
86 by ($0.03). The business had revenue of $13.
52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.
37% and a net margin of 5.33%. The business’s revenue for the quarter was up 2.
4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS.
On average, analysts forecast that HP Inc. will post 3.39 EPS for the current year.
HP announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to purchase up to 28.
9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued. Insider Activity In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on Thursday, September 12th.
The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16.
Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .
Company insiders own 0.41% of the company’s stock. Institutional Inflows and Outflows Hedge funds have recently added to or reduced their stakes in the business.
Triad Wealth Partners LLC purchased a new stake in HP in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the 2nd quarter valued at approximately $34,000.
Sawyer & Company Inc raised its holdings in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter.
Rise Advisors LLC lifted its position in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter.
Finally, DecisionPoint Financial LLC acquired a new position in shares of HP during the second quarter worth $43,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
About HP ( Get Free Report ) 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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