HP (NYSE:HPQ) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded HP from “buy” to “hold.” Analysts overall also have a consensus “hold” rating and an average price target of $26.30.
• HP beat quarterly earnings and revenue expectations, reporting EPS of $0.83 versus $0.66 expected and revenue of $15.68 billion versus $14.44 billion; revenue rose 12.5% year over year.
• HP shares opened at $28.49, within a 52-week range of $17.56 to $36.22. Analysts’ views remain mixed, with five Buy, seven Hold, and five Sell ratings.

HP (NYSE:HPQ - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

HPQ has been the topic of a number of other research reports. KGI Securities upped their price objective on HP from $18.00 to $32.00 in a research report on Thursday, August 27th. Weiss Ratings upgraded HP from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on HP from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Tuesday, August 25th. Bank of America reissued an "underperform" rating on shares of HP in a research note on Thursday, August 27th. Finally, Morgan Stanley upped their price target on HP from $17.00 to $19.00 in a report on Thursday, August 27th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.30.

HP Price Performance

NYSE HPQ opened at $28.49 on Friday. The company has a market cap of $25.70 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.56 and a beta of 1.16. The stock has a 50-day moving average of $31.65 and a two-hundred day moving average of $24.75. HP has a 1-year low of $17.56 and a 1-year high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The business had revenue of $15.68 billion for the quarter, compared to analysts' expectations of $14.44 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business's quarterly revenue was up 12.5% on a year-over-year basis. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, analysts anticipate that HP will post 3.23 EPS for the current fiscal year.

Insider Activity at HP

In other HP news, insider Anneliese Olson sold 18,997 shares of the business's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $32.56, for a total transaction of $618,542.32. Following the completion of the transaction, the insider owned 169 shares in the company, valued at $5,502.64. The trade was a 99.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David McQuarrie sold 31,572 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider directly owned 8,008 shares in the company, valued at approximately $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On HP

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of HP during the 2nd quarter worth about $2,357,757,000. State Street Corp increased its holdings in shares of HP by 1.5% in the 2nd quarter. State Street Corp now owns 52,843,678 shares of the computer maker's stock valued at $1,174,855,000 after acquiring an additional 757,961 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of HP during the 2nd quarter worth about $545,984,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of HP by 3.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,736,665 shares of the computer maker's stock worth $191,682,000 after acquiring an additional 254,828 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of HP during the 2nd quarter worth about $180,689,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Company Profile

HP Inc is a global technology company that develops and sells personal computing and printing products and services. Its offerings include laptops, desktop computers, workstations, displays, accessories and peripherals, as well as printers, printing supplies and related solutions for consumers, businesses and public-sector customers.

The company organizes its business around Personal Systems and Printing. In addition to hardware, HP provides services and solutions such as device management and managed print services, and it offers technologies for commercial and industrial printing.

HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.

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