HP (NYSE:HPQ) Shares Gap Down to $16.03

HP Inc. (NYSE:HPQ) gapped down before the market opened on Friday . The stock had previously closed at $16.01, but opened at $16.03. HP shares last traded at $16.46, with a volume of 9,343,153 shares.

HPQ has been the topic of a number of research reports. Bank of America decreased their target price on shares of HP from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. Goldman Sachs Group cut shares of HP from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $18.00 to $14.00 in a research note on Thursday. Citigroup set a $20.00 price objective on shares of HP and gave the stock a “hold” rating in a research note on Friday, August 23rd. Argus cut shares of HP from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Sanford C. Bernstein cut shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. HP currently has a consensus rating of “Hold” and a consensus price target of $19.73.

The company has a market cap of $24.16 billion, a P/E ratio of 8.04, a PEG ratio of 3.23 and a beta of 1.42. The firm’s 50 day moving average is $18.21 and its two-hundred day moving average is $19.56.



HP (NYSE:HPQ) last released its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. HP’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that HP Inc. will post 2.21 earnings per share for the current fiscal year.

In related news, insider Dion J. Weisler sold 437,171 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HPQ. Rothschild & Co Wealth Management UK Ltd acquired a new position in shares of HP during the second quarter valued at about $33,000. Transamerica Financial Advisors Inc. acquired a new position in shares of HP during the second quarter valued at about $38,000. Coastal Capital Group Inc. acquired a new position in shares of HP during the second quarter valued at about $39,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of HP during the second quarter valued at about $41,000. Finally, Berman Capital Advisors LLC raised its holdings in shares of HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 1,609 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

HP Company Profile (NYSE:HPQ)

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.

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