HP (NYSE:HPQ) Price Target Increased to $39.00 by Analysts at Morgan Stanley

HP (NYSE:HPQ) had its price objective boosted by investment analysts at Morgan Stanley to $39.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has an “overweight” rating on the computer maker’s stock. Morgan Stanley’s price target indicates a potential upside of 21.04% from the company’s previous close.

Several other brokerages also recently issued reports on HPQ. JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and set a $35.00 price target for the company in a report on Thursday, March 4th. Barclays downgraded HP from an “equal weight” rating to an “underweight” rating and set a $22.00 price target for the company. in a report on Thursday, January 14th. Cowen increased their price target on HP from $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on HP from $21.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, February 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.15.

Shares of HPQ stock traded down $0.06 on Thursday, reaching $32.22. 107,831 shares of the stock were exchanged, compared to its average volume of 10,332,767. The stock has a market cap of $40.17 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08. The firm has a 50 day moving average of $29.83 and a two-hundred day moving average of $24.13. HP has a 1-year low of $13.39 and a 1-year high of $32.67.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 25th. The computer maker reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.27. HP had a negative return on equity of 196.27% and a net margin of 5.02%. The business had revenue of $15.65 billion during the quarter, compared to the consensus estimate of $15.24 billion. As a group, equities analysts forecast that HP will post 2.67 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. Engineers Gate Manager LP bought a new position in HP in the third quarter worth about $1,217,000. ExodusPoint Capital Management LP bought a new position in HP in the third quarter worth about $1,752,000. Cubist Systematic Strategies LLC lifted its holdings in HP by 5,242.2% in the third quarter. Cubist Systematic Strategies LLC now owns 181,741 shares of the computer maker’s stock worth $3,451,000 after acquiring an additional 178,339 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in HP in the third quarter worth about $2,458,000. Finally, BNC Wealth Management LLC bought a new position in HP in the third quarter worth about $47,000. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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