HP Inc. (HPQ) Price Target Raised to $26.00

HP Inc. (NYSE:HPQ) had its price objective boosted by Royal Bank Of Canada from $22.00 to $26.00 in a report issued on Wednesday morning, Marketbeat.com reports. Royal Bank Of Canada currently has an outperform rating on the computer maker’s stock.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of HP from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 12th. Mizuho raised shares of HP from a neutral rating to a buy rating and upped their price objective for the company from $20.00 to $21.00 in a research report on Monday, July 10th. BidaskClub cut shares of HP from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Loop Capital started coverage on shares of HP in a research report on Tuesday, August 22nd. They issued a buy rating and a $23.00 price objective for the company. Finally, Deutsche Bank AG reissued a buy rating on shares of HP in a research report on Thursday, August 24th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP has a consensus rating of Buy and a consensus target price of $21.44.

HP (NYSE HPQ) traded up 0.27% on Wednesday, hitting $22.02. The stock had a trading volume of 8,621,009 shares. The company’s 50-day moving average price is $20.15 and its 200 day moving average price is $18.95. HP has a one year low of $13.83 and a one year high of $22.16. The firm has a market cap of $36.78 billion, a price-to-earnings ratio of 16.00 and a beta of 1.94.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the company earned $0.48 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts expect that HP will post $1.65 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.1327 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.41%. HP’s payout ratio is 38.41%.

In other news, insider Tracy S. Keogh sold 265,600 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the transaction, the insider now owns 165,952 shares in the company, valued at approximately $3,302,444.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $21.50, for a total transaction of $880,747.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,872,235 shares of company stock valued at $37,015,007. Insiders own 0.62% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB raised its holdings in shares of HP by 2.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after purchasing an additional 6,074 shares in the last quarter. American Beacon Advisors Inc. bought a new position in shares of HP during the 1st quarter valued at $112,000. Loomis Sayles & Co. L P raised its holdings in shares of HP by 1,201.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 17,893 shares of the computer maker’s stock valued at $320,000 after purchasing an additional 16,518 shares in the last quarter. Summit Street Capital Management LLC raised its holdings in shares of HP by 37.4% during the 1st quarter. Summit Street Capital Management LLC now owns 205,511 shares of the computer maker’s stock valued at $3,675,000 after purchasing an additional 55,911 shares in the last quarter. Finally, Becker Capital Management Inc. raised its holdings in shares of HP by 67.7% during the 1st quarter. Becker Capital Mana

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of HP from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 12th. Mizuho raised shares of HP from a neutral rating to a buy rating and upped their price objective for the company from $20.00 to $21.00 in a research report on Monday, July 10th. BidaskClub cut shares of HP from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Loop Capital started coverage on shares of HP in a research report on Tuesday, August 22nd. They issued a buy rating and a $23.00 price objective for the company. Finally, Deutsche Bank AG reissued a buy rating on shares of HP in a research report on Thursday, August 24th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP has a consensus rating of Buy and a consensus target price of $21.44.

HP (NYSE HPQ) traded up 0.27% on Wednesday, hitting $22.02. The stock had a trading volume of 8,621,009 shares. The company’s 50-day moving average price is $20.15 and its 200 day moving average price is $18.95. HP has a one year low of $13.83 and a one year high of $22.16. The firm has a market cap of $36.78 billion, a price-to-earnings ratio of 16.00 and a beta of 1.94.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the company earned $0.48 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts expect that HP will post $1.65 earnings per share for the current year.

WARNING: This piece was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/21/hp-inc-hpq-price-target-raised-to-26-00.html.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.1327 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.41%. HP’s payout ratio is 38.41%.

In other news, insider Tracy S. Keogh sold 265,600 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the transaction, the insider now owns 165,952 shares in the company, valued at approximately $3,302,444.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $21.50, for a total transaction of $880,747.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,872,235 shares of company stock valued at $37,015,007. Insiders own 0.62% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB raised its holdings in shares of HP by 2.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after purchasing an additional 6,074 shares in the last quarter. American Beacon Advisors Inc. bought a new position in shares of HP during the 1st quarter valued at $112,000. Loomis Sayles & Co. L P raised its holdings in shares of HP by 1,201.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 17,893 shares of the computer maker’s stock valued at $320,000 after purchasing an additional 16,518 shares in the last quarter. Summit Street Capital Management LLC raised its holdings in shares of HP by 37.4% during the 1st quarter. Summit Street Capital Management LLC now owns 205,511 shares of the computer maker’s stock valued at $3,675,000 after purchasing an additional 55,911 shares in the last quarter. Finally, Becker Capital Management Inc. raised its holdings in shares of HP by 67.7% during the 1st quarter. Becker Capital Management Inc. now owns 2,748,186 shares of the computer maker’s stock valued at $49,138,000 after purchasing an additional 1,109,284 shares in the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.

HP Company Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

Analyst Recommendations for HP (NYSE:HPQ)

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