Sanford C. Bernstein Trims HP (NYSE:HPQ) Target Price to $30.00

HP (NYSE:HPQGet Rating) had its price target reduced by Sanford C. Bernstein from $40.00 to $30.00 in a report issued on Tuesday, The Fly reports.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. reduced their price target on HP from $39.00 to $36.00 and set a neutral rating on the stock in a research report on Thursday, July 14th. Cowen reduced their price target on HP from $38.00 to $30.00 and set a market perform rating on the stock in a research report on Wednesday, August 31st. Wells Fargo & Company reduced their price target on HP from $30.00 to $25.00 and set an underweight rating on the stock in a research report on Wednesday, August 31st. UBS Group reduced their price target on HP from $40.00 to $32.00 and set a neutral rating on the stock in a research report on Wednesday, August 31st. Finally, Credit Suisse Group reduced their price target on HP from $39.00 to $33.00 and set an outperform rating on the stock in a research report on Wednesday, August 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $30.79.

HP Price Performance

HPQ opened at $25.71 on Tuesday. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 4.49, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The business has a 50-day moving average of $31.18 and a two-hundred day moving average of $34.46. HP has a 12 month low of $25.69 and a 12 month high of $41.47.

HP (NYSE:HPQGet Rating) last released its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 earnings per share for the quarter, meeting the consensus estimate of $1.04. The business had revenue of $14.66 billion for the quarter, compared to analyst estimates of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. Equities research analysts anticipate that HP will post 4.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the transaction, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the transaction, the chief financial officer now directly owns 13,500 shares of the company’s stock, valued at approximately $446,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares in the company, valued at $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $1,406,520 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of HP

Several hedge funds have recently bought and sold shares of HPQ. Cambridge Investment Research Advisors Inc. raised its position in shares of HP by 0.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 103,240 shares of the computer maker’s stock worth $3,748,000 after buying an additional 527 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of HP by 32.3% in the 1st quarter. Arkadios Wealth Advisors now owns 10,438 shares of the computer maker’s stock worth $379,000 after purchasing an additional 2,549 shares in the last quarter. Kowal Investment Group LLC bought a new stake in shares of HP in the 1st quarter worth approximately $267,000. DekaBank Deutsche Girozentrale raised its holdings in shares of HP by 9.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 627,640 shares of the computer maker’s stock worth $23,944,000 after purchasing an additional 53,763 shares in the last quarter. Finally, Ellevest Inc. raised its holdings in shares of HP by 10.5% in the 1st quarter. Ellevest Inc. now owns 13,588 shares of the computer maker’s stock worth $493,000 after purchasing an additional 1,286 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

HP Company Profile

(Get Rating)

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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