TD Cowen Cuts HP (NYSE:HPQ) Price Target to $28.00

HP (NYSE:HPQ - Get Free Report) had its price target reduced by research analysts at TD Cowen from $38.00 to $28.00 in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a "hold" rating on the computer maker's stock. TD Cowen's target price indicates a potential upside of 12.54% from the company's current price.

A number of other research analysts have also issued reports on HPQ. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Loop Capital decreased their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Citigroup increased their price target on HP from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays increased their price target on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Finally, KGI Securities assumed coverage on HP in a research report on Thursday. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and an average target price of $29.54.

HP Trading Down 0.3%

NYSE:HPQ traded down $0.07 during mid-day trading on Thursday, reaching $24.88. 16,291,226 shares of the stock were exchanged, compared to its average volume of 7,912,801. The business has a fifty day moving average price of $25.95 and a 200 day moving average price of $30.69. The firm has a market capitalization of $23.45 billion, a PE ratio of 8.85, a PEG ratio of 2.96 and a beta of 1.32. HP has a 1-year low of $21.21 and a 1-year high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) 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 253.39% and a net margin of 5.18%. HP's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that HP will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. This represents a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On HP

Several institutional investors have recently made changes to their positions in HPQ. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter worth approximately $26,000. WPG Advisers LLC acquired a new stake in HP in the 1st quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in HP in the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the 4th quarter worth approximately $36,000. Finally, OFI Invest Asset Management acquired a new stake in HP in the 4th quarter worth approximately $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

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.