HP (NYSE:HPQ) Price Target Lowered to $27.50 at Citigroup

HP (NYSE:HPQ - Get Free Report) had its price target lowered by equities researchers at Citigroup from $29.00 to $27.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the computer maker's stock. Citigroup's target price indicates a potential upside of 10.53% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. TD Cowen cut their price target on HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday. KGI Securities began coverage on HP in a research report on Thursday. They issued a "neutral" rating for the company. Morgan Stanley reaffirmed an "equal weight" rating on shares of HP in a research report on Wednesday. Finally, Bank of America lowered their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $29.54.

HP Stock Performance

HPQ stock traded down $0.07 during midday trading on Thursday, hitting $24.88. 16,291,226 shares of the stock were exchanged, compared to its average volume of 7,912,801. The stock's 50-day moving average price is $25.95 and its 200-day moving average price is $30.69. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.96 and a beta of 1.32. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

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

Insider Buying and Selling at HP

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

Hedge Funds Weigh In On HP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPQ. Geode Capital Management LLC lifted its position in shares of HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Amundi raised its holdings in HP by 15.9% during the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after buying an additional 899,349 shares in the last quarter. Gotham Asset Management LLC raised its holdings in HP by 23.6% during the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after buying an additional 122,289 shares in the last quarter. Raymond James Financial Inc. bought a new position in HP during the fourth quarter valued at about $36,492,000. Finally, Resona Asset Management Co. Ltd. bought a new position in HP during the fourth quarter valued at about $9,481,000. 77.53% of the stock is owned by institutional investors.

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.