UBS Group Has Lowered Expectations for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ - Get Free Report) had its price objective lowered by investment analysts at UBS Group from $37.00 to $26.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the computer maker's stock. UBS Group's target price suggests a potential upside of 4.50% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday. Evercore ISI reduced their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company lifted their price target on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Morgan Stanley reduced their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Loop Capital reduced their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, HP currently has an average rating of "Hold" and an average target price of $29.54.

HP Stock Down 0.3%

NYSE HPQ traded down $0.07 during trading hours on Thursday, hitting $24.88. 16,291,226 shares of the stock were exchanged, compared to its average volume of 7,912,801. The company has a market cap of $23.45 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP has a 12-month low of $21.21 and a 12-month high of $39.80. The stock has a 50-day moving average of $25.95 and a 200 day moving average of $30.69.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. On average, equities research analysts expect 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 the company's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction 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 owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was 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 owned by corporate insiders.

Institutional Trading of HP

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after purchasing an additional 579,525 shares during the period. Northern Trust Corp boosted its position in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the period. Invesco Ltd. boosted its position in HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock worth $314,022,000 after purchasing an additional 1,829,411 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in HP by 7.8% during 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in HP by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after purchasing an additional 707,742 shares during the period. 77.53% of the stock is 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.