UBS Group Lowers HP (NYSE:HPQ) Price Target to $26.00

HP (NYSE:HPQ) had its target price cut by UBS Group from $37.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the computer maker’s stock. UBS Group’s price target points to a potential upside of 4.50% from the company’s previous close.

A number of other research firms have also recently weighed in on HPQ. KGI Securities assumed coverage on HP in a report on Thursday. They issued a “neutral” rating on the stock. Morgan Stanley lowered their price target on HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday. Evercore ISI lowered their price target on HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Barclays set a $28.00 price target on HP and gave the stock an “equal weight” rating in a report on Thursday. Finally, Loop Capital lowered their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.54.

HP Price Performance

HPQ opened at $24.88 on Thursday. The stock has a market cap of $23.45 billion, a P/E ratio of 8.85, a P/E/G ratio of 2.96 and a beta of 1.32. The stock’s 50 day simple moving average is $25.95 and its 200 day simple moving average is $30.69. HP has a 1-year low of $21.21 and a 1-year high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. Research analysts expect that HP will post 3.56 EPS for the current fiscal year.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On HP

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Amundi boosted its holdings in shares of HP by 15.9% during the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after purchasing an additional 899,349 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker’s stock worth $20,864,000 after buying an additional 122,289 shares during the period. Raymond James Financial Inc. acquired a new position in HP in the fourth quarter valued at $36,492,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in HP in the fourth quarter valued at $9,481,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

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.