Morgan Stanley Cuts HP (NYSE:HPQ) Price Target to $35.00

HP (NYSE:HPQ) had its target price decreased by analysts at Morgan Stanley from $36.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the computer maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 5.60% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. TD Cowen upped their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Barclays increased their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.59.

HP Trading Down 2.0 %

Shares of NYSE HPQ opened at $33.15 on Friday. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.96 and a beta of 1.05. HP has a one year low of $27.42 and a one year high of $39.79. The business has a fifty day simple moving average of $33.15 and a 200 day simple moving average of $34.86.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. On average, research analysts anticipate that HP will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 over the last three months. 0.41% of the stock is owned by insiders.

Institutional Trading of HP

A number of institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of HP in the 3rd quarter worth $25,000. Synergy Asset Management LLC acquired a new position in HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP during the 4th quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of HP in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Company Profile

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.