Citigroup Increases HP (NYSE:HPQ) Price Target to $27.00

HP (NYSE:HPQ) had its price objective boosted by research analysts at Citigroup from $23.00 to $27.00 in a report issued on Thursday, January 18th, MarketBeat reports. The firm presently has a “buy” rating on the computer maker’s stock. Citigroup’s target price indicates a potential upside of 34.26% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Barclays downgraded shares of HP from an “overweight” rating to an “equal weight” rating and set a $23.00 price target on the stock. in a research note on Wednesday, January 17th. UBS Group raised their price objective on shares of HP from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, January 16th. Zacks Investment Research lowered shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Loop Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of HP in a report on Wednesday, November 22nd. Finally, Morgan Stanley reiterated a “hold” rating and issued a $14.00 price objective on shares of HP in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.83.

Shares of HP (HPQ) traded up $0.19 during trading on Thursday, reaching $20.11. 13,164,030 shares of the company’s stock were exchanged, compared to its average volume of 9,990,594. The firm has a market capitalization of $33,085.54, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.77. The company has a debt-to-equity ratio of -1.98, a current ratio of 1.00 and a quick ratio of 0.74. HP has a 12-month low of $15.55 and a 12-month high of $24.10.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The company had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. research analysts forecast that HP will post 1.81 earnings per share for the current year.

In related news, insider Marie Myers sold 10,000 shares of HP stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total value of $215,500.00. Following the completion of the sale, the insider now owns 21,966 shares of the company’s stock, valued at approximately $473,367.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kim M. Rivera sold 41,761 shares of HP stock in a transaction on Monday, November 13th. The shares were sold at an average price of $21.28, for a total transaction of $888,674.08. Following the completion of the sale, the insider now directly owns 84,799 shares of the company’s stock, valued at approximately $1,804,522.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 944,749 shares of company stock valued at $20,827,115. Insiders own 0.62% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of HPQ. Sandy Spring Bank raised its stake in shares of HP by 439.8% during the 4th quarter. Sandy Spring Bank now owns 5,236 shares of the computer maker’s stock worth $110,000 after purchasing an additional 4,266 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in HP by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after buying an additional 200 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after buying an additional 836 shares in the last quarter. D.A. Davidson & CO. boosted its stake in HP by 1.1% in the second quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after buying an additional 85 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in HP by 159.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,534 shares of the computer maker’s stock worth $137,000 after buying an additional 4,011 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

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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.

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