Zacks Research Upgrades HP (NYSE:HPQ) to Hold

HP (NYSE:HPQ) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

HPQ has been the topic of several other reports. Barclays set a $28.00 price target on shares of HP and gave the company an “equal weight” rating in a report on Thursday, May 29th. UBS Group decreased their price target on shares of HP from $37.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, May 29th. KGI Securities began coverage on shares of HP in a report on Thursday, May 29th. They set a “neutral” rating on the stock. Morgan Stanley decreased their price target on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, May 29th. Finally, Bank of America decreased their price target on shares of HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.54.

HP Stock Down 1.9%

HPQ stock opened at $26.4960 on Tuesday. HP has a 12 month low of $21.21 and a 12 month high of $39.79. The firm has a market cap of $24.89 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.19 and a beta of 1.29. The company’s 50-day moving average price is $25.30 and its two-hundred day moving average price is $27.06.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. Equities analysts predict that HP will post 3.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. WPG Advisers LLC acquired a new position in shares of HP during the 1st quarter valued at $25,000. Laurel Wealth Advisors LLC lifted its position in shares of HP by 2,346.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,052 shares of the computer maker’s stock valued at $26,000 after acquiring an additional 1,009 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of HP during the 2nd quarter valued at $27,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in HP during the fourth quarter worth $36,000. Finally, Global Trust Asset Management LLC raised its holdings in HP by 492.6% during the second quarter. Global Trust Asset Management LLC now owns 1,203 shares of the computer maker’s stock worth $29,000 after buying an additional 1,000 shares during the last quarter. 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.