HP Inc. (NYSE:HPQ – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 30,490,000 shares, an increase of 11.7% from the August 15th total of 27,300,000 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 7,300,000 shares, the short-interest ratio is presently 4.2 days.
HP Stock Performance
NYSE:HPQ opened at $34.43 on Wednesday. HP has a 52-week low of $25.22 and a 52-week high of $39.52. The stock has a fifty day moving average of $35.24 and a 200 day moving average of $32.95. The firm has a market capitalization of $33.69 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.23 and a beta of 1.07.
HP (NYSE:HPQ – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Equities analysts forecast that HP will post 3.39 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
HPQ has been the topic of a number of recent research reports. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Loop Capital cut their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Wells Fargo & Company upped their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.55.
View Our Latest Analysis on HP
Insider Buying and Selling at HP
In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
Institutional Trading of HP
A number of hedge funds have recently made changes to their positions in HPQ. Treasurer of the State of North Carolina lifted its stake in HP by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock worth $12,090,000 after purchasing an additional 4,102 shares during the last quarter. Chris Bulman Inc purchased a new stake in HP during the 2nd quarter valued at about $88,000. Daiwa Securities Group Inc. boosted its holdings in HP by 27.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after acquiring an additional 22,909 shares during the period. State of Alaska Department of Revenue increased its stake in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after purchasing an additional 80,670 shares during the period. Finally, Swiss National Bank increased its stake in HP by 1.4% in the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after purchasing an additional 37,800 shares during the period. 77.53% of the stock is owned by institutional investors.
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.
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