HP (NYSE:HPQ) Price Target Cut to $32.00 by Analysts at Evercore ISI

HP (NYSE:HPQ - Get Free Report) had its price objective decreased by Evercore ISI from $40.00 to $32.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the computer maker's stock. Evercore ISI's price objective would indicate a potential upside of 26.36% from the stock's previous close.

Several other equities analysts also recently issued reports on the stock. Sanford C. Bernstein raised their price target on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. Loop Capital cut their target price on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Barclays raised their price objective on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, TD Cowen decreased their target price on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, HP currently has an average rating of "Hold" and a consensus price target of $33.83.

HP Trading Up 0.2 %

HP stock traded up $0.04 during mid-day trading on Monday, reaching $25.32. The company had a trading volume of 997,618 shares, compared to its average volume of 8,075,461. The business has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $32.30. The company has a market cap of $23.87 billion, a P/E ratio of 9.02, a P/E/G ratio of 2.96 and a beta of 1.09. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. Research analysts forecast that HP will post 3.56 EPS for the current year.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business's 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of HP

Several institutional investors have recently made changes to their positions in HPQ. Barclays PLC lifted its holdings in HP by 8.7% during the third quarter. Barclays PLC now owns 2,307,573 shares of the computer maker's stock worth $82,772,000 after acquiring an additional 183,741 shares during the period. Te Ahumairangi Investment Management Ltd boosted its holdings in shares of HP by 3.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker's stock worth $5,757,000 after buying an additional 5,360 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in HP during the third quarter valued at about $237,000. World Investment Advisors LLC bought a new position in HP during the third quarter valued at about $324,000. Finally, Arvest Bank Trust Division purchased a new stake in HP during the third quarter worth about $11,745,000. Institutional investors own 77.53% of the company's stock.

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.

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