HP (NYSE:HPQ) Upgraded by Zacks Research to "Hold" Rating

Key Points

• HP Inc. has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a shift in market sentiment regarding the company's stock.
• Following HP's quarterly earnings report, which missed earnings estimates but exceeded revenue expectations, several analysts have adjusted their price targets downward, with the average consensus price target now at $29.54.
• Institutional investors now hold 77.53% of HP's shares, reflecting significant interest and investment from major financial institutions in the company's stock.

HP (NYSE:HPQ - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on HPQ. Bank of America cut their price target on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. TD Cowen dropped their target price on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. KGI Securities started coverage on HP in a research note on Thursday, May 29th. They issued a "neutral" rating for the company. Wells Fargo & Company dropped 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. Finally, Morgan Stanley decreased their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, HP has a consensus rating of "Hold" and a consensus price target of $29.54.

HP Stock Performance

Shares of HP stock opened at $26.4960 on Tuesday. The firm has a market cap of $24.89 billion, a PE ratio of 10.23, a P/E/G ratio of 2.19 and a beta of 1.29. The business's 50 day simple moving average is $25.30 and its 200 day simple moving average is $27.06. HP has a 52-week low of $21.21 and a 52-week high of $39.79.

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). The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%.The company's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. As a group, equities research analysts predict that HP will post 3.56 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HPQ. WPG Advisers LLC bought a new stake in HP in the 1st quarter valued at $25,000. Laurel Wealth Advisors LLC grew its stake in shares of HP by 2,346.5% in the second quarter. Laurel Wealth Advisors LLC now owns 1,052 shares of the computer maker's stock valued at $26,000 after acquiring an additional 1,009 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in HP during the second quarter worth about $27,000. Global Trust Asset Management LLC boosted its holdings in HP by 492.6% in the 2nd quarter. Global Trust Asset Management LLC now owns 1,203 shares of the computer maker's stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of HP by 72.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,220 shares of the computer maker's stock worth $30,000 after purchasing an additional 512 shares in the last quarter. 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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