Barclays Reiterates "$28.00" Price Target for HP (NYSE:HPQ)

HP (NYSE:HPQ - Get Free Report) has been assigned a $28.00 target price by Barclays in a research note issued on Thursday, MarketBeat reports. The firm currently has an "equal weight" rating on the computer maker's stock. Barclays's target price would suggest a potential upside of 12.54% from the company's current price.

Several other analysts have also recently weighed in on the stock. Evercore ISI lowered their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley restated an "equal weight" rating on shares of HP in a research report on Wednesday. Citigroup lifted their target price on shares of HP from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.54.

HP Stock Performance

HPQ stock traded down $0.07 during mid-day trading on Thursday, hitting $24.88. The company had a trading volume of 16,291,226 shares, compared to its average volume of 7,912,801. The firm has a market cap of $23.45 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP has a 12 month low of $21.21 and a 12 month high of $39.80. The stock's fifty day moving average price is $25.95 and its two-hundred day moving average price is $30.69.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period last year, the firm earned $0.82 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that HP will post 3.56 earnings per share for the current year.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HP

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. West Paces Advisors Inc. boosted its position in shares of HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after acquiring an additional 298 shares during the last quarter. TIAA Trust National Association lifted its position in HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock valued at $548,000 after purchasing an additional 302 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock valued at $374,000 after purchasing an additional 306 shares during the last quarter. Auxano Advisors LLC lifted its position in HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock valued at $282,000 after purchasing an additional 310 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position in HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock valued at $400,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 77.53% of the company's stock.

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.