HP (NYSE:HPQ) Stock Rating Lowered by Morgan Stanley

HP (NYSE:HPQ) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $37.00 target price on the computer maker’s stock. Morgan Stanley’s price objective indicates a potential upside of 6.29% from the stock’s previous close.

HPQ has been the topic of a number of other reports. Citigroup lifted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Bank of America upped their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. TD Cowen increased their target price on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, Barclays boosted their target price on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.64.

HP Trading Up 0.6 %

Shares of NYSE:HPQ opened at $34.81 on Monday. HP has a 12 month low of $25.22 and a 12 month high of $39.52. The firm has a 50 day moving average of $35.61 and a 200-day moving average of $32.09. The stock has a market capitalization of $34.06 billion, a PE ratio of 11.76, a PEG ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. HP’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, research analysts predict that HP will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On HP

Several institutional investors have recently bought and sold shares of HPQ. Triad Wealth Partners LLC bought a new stake in shares of HP in the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the second quarter valued at approximately $34,000. Sawyer & Company Inc lifted its holdings in HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the period. Rise Advisors LLC boosted its position in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter. Finally, DecisionPoint Financial LLC bought a new position in HP in the 2nd quarter valued at $43,000. Institutional investors own 77.53% of the company’s stock.

HP Company Profile

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.