HP (NYSE:HPQ) Stock Rating Lowered by Dbs Bank

HP (NYSE:HPQ) was downgraded by stock analysts at Dbs Bank from a “moderate buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Barclays set a $28.00 target price on shares of HP and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Loop Capital dropped their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, May 29th. KGI Securities initiated coverage on shares of HP in a research report on Thursday, May 29th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of HP from $35.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.54.

HP Trading Down 2.9%

Shares of NYSE:HPQ opened at $24.83 on Wednesday. The company has a 50 day moving average of $25.66 and a 200 day moving average of $30.03. The stock has a market cap of $23.32 billion, a P/E ratio of 8.84, a P/E/G ratio of 2.96 and a beta of 1.30. HP has a 12 month low of $21.21 and a 12 month high of $39.80.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the firm posted $0.82 EPS. HP’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that HP will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22% 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. Also, insider Stephanie Liebman sold 15,646 shares of HP 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 disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HPQ. Norges Bank purchased a new position in shares of HP in the fourth quarter worth $229,320,000. Nuveen LLC purchased a new position in shares of HP in the first quarter worth $179,037,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP during the 4th quarter valued at $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in HP during the 4th quarter valued at $63,612,000. Finally, Invesco Ltd. increased its position in HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker’s stock valued at $314,022,000 after purchasing an additional 1,829,411 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

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.