HP (HPQ) Stock Rating Lowered by Barclays

Barclays downgraded shares of HP (NYSE:HPQ) from an overweight rating to an equal weight rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $23.00 price target on the computer maker’s stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank reissued a buy rating and issued a $23.00 price target (up previously from $22.00) on shares of HP in a report on Friday, October 6th. Loop Capital increased their price target on HP from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, October 13th. Zacks Investment Research raised HP from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Tuesday, October 10th. Citigroup increased their price target on HP from $20.00 to $23.00 and gave the company a buy rating in a report on Friday, October 13th. Finally, Bank of America increased their price target on HP from $22.00 to $23.00 and gave the company a buy rating in a report on Friday, October 13th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $21.71.

Shares of HP (HPQ) traded down $0.17 during midday trading on Wednesday, hitting $23.29. The stock had a trading volume of 12,277,245 shares, compared to its average volume of 8,510,000. HP has a 52 week low of $14.41 and a 52 week high of $23.57. The company has a debt-to-equity ratio of -1.98, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market capitalization of $38,320.00, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.81.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The firm had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.36 billion. HP had a negative return on equity of 70.25% and a net margin of 4.85%. HP’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. sell-side analysts expect that HP will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th were paid a dividend of $0.1393 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.56 annualized dividend and a yield of 2.39%. This is a boost from HP’s previous quarterly dividend of $0.13. HP’s dividend payout ratio is presently 37.84%.

In other news, insider Dion J. Weisler sold 525,719 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $21.22, for a total transaction of $11,155,757.18. Following the sale, the insider now directly owns 865,216 shares in the company, valued at approximately $18,359,883.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie Myers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $21.55, for a total value of $215,500.00. Following the sale, the insider now owns 21,966 shares in the company, valued at $473,367.30. The disclosure for this sale can be found here. Insiders have sold 1,247,677 shares of company stock worth $26,642,227 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in HPQ. Boston Partners raised its position in shares of HP by 45.9% during the 3rd quarter. Boston Partners now owns 38,111,672 shares of the computer maker’s stock worth $760,709,000 after purchasing an additional 11,994,111 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of HP by 87.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after purchasing an additional 3,358,299 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in shares of HP during the 3rd quarter worth approximately $63,140,000. PGGM Investments acquired a new stake in shares of HP during the 3rd quarter worth approximately $43,473,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of HP by 19.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 12,557,886 shares of the computer maker’s stock worth $212,366,000 after purchasing an additional 2,074,500 shares during the period. Institutional investors and hedge funds own 80.92% of the company’s stock.

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HP Company Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

Analyst Recommendations for HP (NYSE:HPQ)

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