JPMorgan Chase & Co. Lowers HP (NYSE:HPQ) Price Target to $29.00

HP (NYSE:HPQ) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $40.00 to $29.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the computer maker’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 22.29% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Loop Capital cut their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Barclays increased their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Sanford C. Bernstein lifted their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.00.

HP Price Performance

NYSE HPQ opened at $23.71 on Thursday. HP has a 12 month low of $21.21 and a 12 month high of $39.80. The company has a 50-day moving average of $28.93 and a 200-day moving average of $32.90. The company has a market cap of $22.36 billion, a P/E ratio of 8.40, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released 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 firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, equities research analysts anticipate that HP will post 3.56 EPS for the current year.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of HP

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Amundi raised its stake in shares of HP by 15.9% in the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after acquiring an additional 899,349 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Oak Thistle LLC boosted its position in HP by 169.3% in the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock valued at $1,132,000 after buying an additional 21,805 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

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.