Citigroup Has Lowered Expectations for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its target price cut by stock analysts at Citigroup from $36.50 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the computer maker’s stock. Citigroup’s price objective indicates a potential upside of 3.91% from the stock’s current price.

Several other research firms have also recently commented on HPQ. Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Loop Capital reduced their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Sanford C. Bernstein boosted their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, TD Cowen decreased their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.09.

HP Stock Up 2.6 %

Shares of NYSE HPQ traded up $0.62 during trading on Monday, reaching $24.06. The company had a trading volume of 10,637,928 shares, compared to its average volume of 7,818,849. The business’s 50-day moving average is $29.45 and its 200 day moving average is $33.11. The stock has a market cap of $22.68 billion, a PE ratio of 8.56, a P/E/G ratio of 2.96 and a beta of 1.09. HP has a 12-month low of $21.21 and a 12-month high of $39.80.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. On average, analysts anticipate that HP will post 3.56 earnings per share for the current year.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On HP

A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. Synergy Asset Management LLC purchased a new stake in HP in the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in shares of HP in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new position in HP during the fourth quarter valued at approximately $37,000. Finally, CoreCap Advisors LLC grew its holdings in HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after buying an additional 587 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

About HP

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.