HP (HPQ) Now Covered by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company assumed coverage on shares of HP (NYSE:HPQ) in a research note issued on Tuesday, November 14th, MarketBeat.com reports. The brokerage set a “market perform” rating and a $21.00 price target on the computer maker’s stock. Wells Fargo & Company’s target price indicates a potential downside of 1.91% from the stock’s previous close.

Other analysts also recently issued reports about the company. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 target price on shares of HP in a research note on Thursday, August 24th. BidaskClub downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Loop Capital started coverage on HP in a research note on Tuesday, August 22nd. They issued a “buy” rating and a $23.00 price target on the stock. Mizuho restated a “buy” rating and issued a $21.00 price target on shares of HP in a research note on Thursday, August 24th. Finally, Deutsche Bank restated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.31.

HP (NYSE:HPQ) opened at $21.41 on Tuesday. HP has a 52-week low of $14.40 and a 52-week high of $22.68. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market capitalization of $35,760.14, a P/E ratio of 12.98, a P/E/G ratio of 2.27 and a beta of 1.81.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.36 billion. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. equities analysts forecast that HP will post 1.79 earnings per share for the current year.

In related news, CEO Dion J. Weisler sold 95,521 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the sale, the chief executive officer now owns 435,018 shares in the company, valued at $8,687,309.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie Myers sold 10,025 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $19.50, for a total value of $195,487.50. Following the completion of the sale, the insider now owns 10,025 shares of the company’s stock, valued at approximately $195,487.50. The disclosure for this sale can be found here. Insiders have sold 2,125,905 shares of company stock worth $43,709,345 over the last three months. 0.62% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Bronfman E.L. Rothschild L.P. raised its stake in HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after buying an additional 1,013 shares in the last quarter. YorkBridge Wealth Partners LLC raised 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 raised 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. Whittier Trust Co. of Nevada Inc. raised its stake in HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock worth $130,000 after buying an additional 996 shares in the last quarter. Finally, D.A. Davidson & CO. raised 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. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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About HP

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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