Royal Bank Of Canada Upgrades HP (NYSE:HPQ) to “Hold”

HP (NYSE:HPQ) was upgraded by analysts at Royal Bank Of Canada to a “hold” rating in a research note issued on Thursday, Zacks reports.

Other analysts also recently issued reports about the company. Barclays raised their target price on HP from $19.00 to $23.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. Citigroup increased their price target on HP from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. The Goldman Sachs Group upped their target price on HP from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of HP from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.77.

HP Trading Up 8.2%

NYSE HPQ opened at $35.42 on Thursday. The stock has a market cap of $31.94 billion, a P/E ratio of 13.52, a PEG ratio of 1.70 and a beta of 1.18. The company’s fifty day simple moving average is $28.29 and its 200-day simple moving average is $23.69. HP has a 52 week low of $17.56 and a 52 week high of $36.22.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.44 billion. During the same period last year, the business earned $0.75 EPS. The business’s revenue was up 12.5% on a year-over-year basis. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, research analysts expect that HP will post 3.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David McQuarrie sold 21,048 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the sale, the insider directly owned 39,580 shares of the company’s stock, valued at $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,096 shares of company stock valued at $1,218,890 over the last three months. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HPQ. SHP Wealth Management bought a new position in HP during the fourth quarter worth $26,000. Union Savings Bank acquired a new position in HP in the fourth quarter worth $28,000. Aberdeen Wealth Management LLC bought a new position in shares of HP in the 2nd quarter worth about $29,000. MCF Advisors LLC boosted its holdings in shares of HP by 149.0% in the 2nd quarter. MCF Advisors LLC now owns 1,337 shares of the computer maker’s stock valued at $29,000 after buying an additional 800 shares during the period. Finally, DV Equities LLC acquired a new stake in HP during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

About HP

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.