HP (HPQ) Downgraded to Sell at ValuEngine

HP (NYSE:HPQ) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday, April 1st, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of HP in a research report on Thursday, February 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $22.00 price target on shares of HP in a research report on Wednesday, February 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $26.00 price target on shares of HP in a research report on Wednesday, January 2nd. Bank of America cut shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research report on Thursday, February 28th. Finally, Standpoint Research began coverage on shares of HP in a research report on Wednesday, December 26th. They issued a “buy” rating and a $19.38 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. HP has an average rating of “Hold” and a consensus target price of $26.03.

Shares of HPQ stock traded down $0.19 on Monday, reaching $19.41. 7,894,600 shares of the company were exchanged, compared to its average volume of 11,664,071. The stock has a market capitalization of $30.35 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 3.32 and a beta of 1.39. HP has a one year low of $18.46 and a one year high of $27.08.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. HP had a net margin of 7.15% and a negative return on equity of 216.97%. The company had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that HP will post 2.14 EPS for the current year.

In other HP news, CEO Dion J. Weisler sold 36,799 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.00, for a total value of $735,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Unison Advisors LLC increased its stake in shares of HP by 0.5% during the 4th quarter. Unison Advisors LLC now owns 91,261 shares of the computer maker’s stock worth $1,882,000 after purchasing an additional 483 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of HP by 12.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,402 shares of the computer maker’s stock worth $90,000 after purchasing an additional 499 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its stake in shares of HP by 5.6% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 11,171 shares of the computer maker’s stock worth $217,000 after purchasing an additional 595 shares during the last quarter. Montecito Bank & Trust boosted its holdings in HP by 2.6% in the 1st quarter. Montecito Bank & Trust now owns 23,902 shares of the computer maker’s stock worth $464,000 after buying an additional 598 shares during the period. Finally, DT Investment Partners LLC boosted its holdings in HP by 0.3% in the 4th quarter. DT Investment Partners LLC now owns 190,608 shares of the computer maker’s stock worth $3,900,000 after buying an additional 632 shares during the period. Hedge funds and other institutional investors own 81.22% 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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