HP (NYSE:HPQ) Upgraded at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded HP to a “hold” rating. Across analysts, HP has a consensus “hold” rating and an average price target of $25.77.
• HP shares rose 8.2% to $35.42, near their 12-month high of $36.22, giving the company a market capitalization of approximately $31.94 billion.
• HP exceeded quarterly expectations, reporting $0.83 in EPS versus the $0.66 consensus and $15.68 billion in revenue versus $14.44 billion expected; revenue increased 12.5% year over year.

HP (NYSE:HPQ - Get Free Report) was upgraded by equities research analysts at Royal Bank Of Canada to a "hold" rating in a research note issued on Thursday, Zacks reports.

HPQ has been the subject of several other research reports. Barclays raised their price target on shares of HP from $19.00 to $23.00 and gave the company an "underweight" rating in a research report on Friday, August 28th. Zacks Research upgraded HP from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 7th. Citigroup lifted their target price on HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Bank of America restated an "underperform" rating on shares of HP in a research note on Thursday, August 27th. Finally, TD Cowen upped their price target on HP from $26.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $25.77.

HP Trading Up 8.2%

NYSE HPQ opened at $35.42 on Thursday. HP has a 12 month low of $17.56 and a 12 month high of $36.22. The stock has a market cap of $31.94 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.70 and a beta of 1.18. The stock's fifty day moving average price is $28.29 and its 200-day moving average price is $23.69.

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

Insider Transactions at HP

In other HP news, insider David McQuarrie sold 21,048 shares of HP stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the sale, the insider owned 39,580 shares of the company's stock, valued at approximately $1,186,608.40. The trade was a 34.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,096 shares of company stock valued at $1,218,890 in the last 90 days. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On HP

Institutional investors and hedge funds have recently modified their holdings of the company. Callan Family Office LLC bought a new position in HP in the 2nd quarter worth $3,029,000. BlackRock Inc. bought a new stake in HP during the second quarter valued at about $2,357,757,000. BNP Paribas increased its position in HP by 8,978.0% in the fourth quarter. BNP Paribas now owns 129,725 shares of the computer maker's stock worth $2,891,000 after buying an additional 128,296 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in HP in the fourth quarter worth about $7,939,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of HP by 19.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,363,793 shares of the computer maker's stock worth $30,385,000 after buying an additional 217,428 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Company Profile

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.

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