HP (NYSE:HPQ) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of HP (NYSE:HPQ) from a hold rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.

HPQ has been the subject of several other research reports. Credit Suisse Group started coverage on HP in a report on Thursday, April 11th. They issued a neutral rating and a $21.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on HP from $21.00 to $22.00 and gave the company a neutral rating in a report on Tuesday, June 25th. Zacks Investment Research upgraded HP from a sell rating to a hold rating in a report on Tuesday, April 23rd. Evercore ISI started coverage on HP in a report on Wednesday, June 5th. They issued an outperform rating and a $23.00 price objective for the company. Finally, Deutsche Bank started coverage on HP in a report on Wednesday, June 19th. They issued a hold rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $24.43.

Shares of HP stock traded down $0.85 during trading on Thursday, hitting $20.14. The stock had a trading volume of 10,942,626 shares, compared to its average volume of 7,611,317. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 3.16 and a beta of 1.40. The firm’s fifty day simple moving average is $20.97. HP has a fifty-two week low of $18.06 and a fifty-two week high of $27.08.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, May 23rd. The computer maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The business had revenue of $14.04 billion during the quarter, compared to analyst estimates of $13.97 billion. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, sell-side analysts anticipate that HP will post 2.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio is 31.68%.

In other news, insider Claire Bramley sold 15,819 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $316,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shumeet Banerji sold 28,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $560,000.00. Following the sale, the director now directly owns 31,311 shares of the company’s stock, valued at $626,220. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,635 shares of company stock valued at $4,423,266. 0.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gradient Investments LLC raised its position in HP by 331.6% during the first quarter. Gradient Investments LLC now owns 1,394 shares of the computer maker’s stock valued at $27,000 after buying an additional 1,071 shares during the period. Icon Wealth Partners LLC acquired a new position in HP during the first quarter valued at $27,000. First Personal Financial Services raised its position in HP by 101.9% during the first quarter. First Personal Financial Services now owns 1,621 shares of the computer maker’s stock valued at $31,000 after buying an additional 818 shares during the period. Rational Advisors LLC raised its position in HP by 1,557.8% during the first quarter. Rational Advisors LLC now owns 1,923 shares of the computer maker’s stock valued at $37,000 after buying an additional 1,807 shares during the period. Finally, Coastal Capital Group Inc. acquired a new position in HP during the second quarter valued at $39,000. 79.94% of the stock is 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.

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

Analyst Recommendations for HP (NYSE:HPQ)

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