Evercore ISI Reiterates In-Line Rating for HP (NYSE:HPQ)

Key Points

• Evercore ISI has reiterated an "in-line" rating for HP's stock (NYSE:HPQ) with a price target of $29.00, suggesting a potential downside of 0.34% from its previous close.
• HP's latest earnings report showed an EPS of $0.75, meeting analysts' expectations, with revenue reaching $13.93 billion for the quarter, a 3.1% increase year-over-year.
• Institutional investors own 77.53% of HP's stock, indicating significant confidence from large shareholders, with several firms increasing their stakes in the company recently.

Evercore ISI reiterated their in-line rating on shares of HP (NYSE:HPQ - Free Report) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $29.00 price objective on the computer maker's stock.

HPQ has been the topic of a number of other research reports. Morgan Stanley reduced their target price on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. KGI Securities began coverage on HP in a research note on Thursday, May 29th. They issued a "neutral" rating on the stock. Wells Fargo & Company reduced their price objective on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, Citigroup reduced their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.71.

HP Stock Performance

HPQ traded down $0.38 during trading on Wednesday, reaching $27.96. The stock had a trading volume of 8,101,284 shares, compared to its average volume of 9,095,175. The stock has a market cap of $26.13 billion, a PE ratio of 10.20, a PEG ratio of 2.28 and a beta of 1.29. HP has a one year low of $21.21 and a one year high of $39.79. The business has a 50-day moving average of $26.51 and a 200-day moving average of $26.45.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, August 27th. The computer maker reported $0.75 EPS for the quarter, meeting analysts' consensus estimates of $0.75. The business had revenue of $13.93 billion for the quarter, compared to analysts' expectations of $13.69 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The firm's revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Equities research analysts forecast that HP will post 3.56 EPS for the current fiscal year.

Hedge Funds Weigh In On HP

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of HP by 1.9% during the second quarter. Vanguard Group Inc. now owns 126,536,318 shares of the computer maker's stock valued at $3,095,078,000 after purchasing an additional 2,395,056 shares during the last quarter. Dodge & Cox raised its holdings in HP by 4.6% in the 2nd quarter. Dodge & Cox now owns 34,943,498 shares of the computer maker's stock worth $854,718,000 after acquiring an additional 1,537,945 shares during the last quarter. Geode Capital Management LLC grew its position in HP by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 26,187,203 shares of the computer maker's stock worth $638,720,000 after purchasing an additional 424,544 shares during the period. Invesco Ltd. grew its position in HP by 15.9% in the 2nd quarter. Invesco Ltd. now owns 13,146,875 shares of the computer maker's stock worth $321,573,000 after purchasing an additional 1,806,246 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in HP by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,013,184 shares of the computer maker's stock worth $277,265,000 after purchasing an additional 724,020 shares during the period. 77.53% of the stock is currently owned by hedge funds and other 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.