Hewlett Packard Enterprise (NYSE:HPE) Raised to “Strong-Buy” at Wall Street Zen

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms also recently commented on HPE. Raymond James Financial increased their target price on Hewlett Packard Enterprise from $29.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $71.00 to $69.00 in a report on Monday, August 10th. Barclays upped their price target on Hewlett Packard Enterprise from $28.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Truist Financial restated a “buy” rating and set a $69.00 price objective (up from $31.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 2nd. Finally, Bank of America lifted their price objective on shares of Hewlett Packard Enterprise from $38.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and an average target price of $69.93.

Hewlett Packard Enterprise Stock Performance

Shares of Hewlett Packard Enterprise stock opened at $52.25 on Friday. The firm has a market cap of $69.19 billion, a PE ratio of 48.83, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The firm’s 50-day simple moving average is $49.53 and its 200-day simple moving average is $37.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.75 and a current ratio of 1.09. Hewlett Packard Enterprise has a 1 year low of $19.84 and a 1 year high of $64.25.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Monday, June 1st. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.25. Hewlett Packard Enterprise had a return on equity of 11.91% and a net margin of 3.94%.The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $9.78 billion. During the same period last year, the firm earned ($0.82) earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. Equities analysts forecast that Hewlett Packard Enterprise will post 2.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, SVP Kirt P. Karros sold 18,785 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $48.50, for a total transaction of $911,072.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in shares of Hewlett Packard Enterprise by 317.3% during the first quarter. Empowered Funds LLC now owns 149,810 shares of the technology company’s stock worth $2,312,000 after acquiring an additional 113,906 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Hewlett Packard Enterprise by 44.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,377 shares during the last quarter. Brown Advisory Inc. lifted its position in Hewlett Packard Enterprise by 4.4% in the 2nd quarter. Brown Advisory Inc. now owns 23,593 shares of the technology company’s stock valued at $482,000 after purchasing an additional 996 shares during the last quarter. Jump Financial LLC boosted its stake in Hewlett Packard Enterprise by 25.8% during the 2nd quarter. Jump Financial LLC now owns 15,662 shares of the technology company’s stock valued at $320,000 after purchasing an additional 3,215 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Hewlett Packard Enterprise in the 2nd quarter worth about $207,000. 80.78% of the stock is currently owned by institutional investors.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.