HP (NYSE:HPQ) Price Target Cut to $33.00 by Analysts at Bank of America

HP (NYSE:HPQ - Get Free Report) had its target price lowered by analysts at Bank of America from $35.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the computer maker's stock. Bank of America's target price suggests a potential upside of 19.37% from the stock's previous close.

HPQ has been the subject of several other research reports. TD Cowen lowered their price objective on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Citigroup raised their target price on shares of HP from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Evercore ISI dropped their price target on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Loop Capital cut their price target on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of HP in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $33.33.

HP Trading Down 2.5%

Shares of HP stock traded down $0.70 on Wednesday, hitting $27.65. 6,886,550 shares of the company traded hands, compared to its average volume of 7,905,070. HP has a 12-month low of $21.21 and a 12-month high of $39.80. The company has a market cap of $26.06 billion, a P/E ratio of 9.84, a P/E/G ratio of 2.96 and a beta of 1.32. The firm's 50-day simple moving average is $26.13 and its 200 day simple moving average is $30.89.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Analysts predict 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 HP stock in a transaction dated Thursday, March 27th. The stock was 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 owns 169 shares of the company's stock, valued at $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The stock was 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. Corporate insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On HP

A number of large investors have recently bought and sold shares of the business. WPG Advisers LLC purchased a new stake in shares of HP during the first quarter worth about $25,000. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP during the 4th quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of HP during the first quarter valued at approximately $35,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds 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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