Barclays Issues Positive Forecast for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its target price upped by investment analysts at Barclays from $35.00 to $36.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the computer maker’s stock. Barclays‘s price target would suggest a potential upside of 17.09% from the stock’s previous close.

Several other equities analysts have also weighed in on HPQ. Wells Fargo & Company lifted their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. Finally, Citigroup cut their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.59.

HP Stock Performance

HP stock traded down $2.39 during trading on Friday, hitting $30.75. The company’s stock had a trading volume of 23,228,767 shares, compared to its average volume of 6,492,232. The stock’s fifty day moving average is $33.15 and its 200 day moving average is $34.86. HP has a 1-year low of $27.42 and a 1-year high of $39.79. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, research analysts anticipate that HP will post 3.56 EPS for the current fiscal year.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its holdings in HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares during the last quarter. Northern Trust Corp boosted its stake in HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock valued at $419,126,000 after acquiring an additional 1,755,942 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of HP by 7.3% during the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock valued at $310,351,000 after purchasing an additional 643,192 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

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.