Rating On Watch: HP (HPQ) Loses a Vote of Confidence From Jefferies. What to Expect?

November 23, 2016 - By olga

Rating On Watch: HP (HPQ) Loses a Vote of Confidence From Jefferies. What to Expect?

HP (HPQ) Downgrade

In a a note sent to investors and clients on 23 November, Jefferies stated it was downgrading HP (HPQ) stock rating from a “Buy” to a “Hold”.

HP Inc (NYSE:HPQ) Ratings Coverage

Out of 4 analysts covering HP (HPQ), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. $15.0 is the highest target while $14.0 is the lowest. The $14.50 average target is -5.78% below today’s ($15.39) stock price. HP has been the topic of 4 analyst reports since August 22, 2016 according to StockzIntelligence Inc. The firm has “Hold” rating by Maxim Group given on Thursday, August 25. The rating was maintained by Mizuho with “Neutral” on Friday, October 14. On Friday, October 14 the stock rating was maintained by UBS with “Neutral”. The firm earned “Sector Perform” rating on Monday, August 22 by RBC Capital Markets.

About 5.67M shares traded hands. HP Inc (HPQ) has risen 26.69% since April 21, 2016 and is uptrending. It has outperformed by 21.36% the S&P500.

Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.18, from 0.57 in 2016Q1. The ratio is positive, as 9 funds sold all HP Inc shares owned while 12 reduced positions. 4 funds bought stakes while 8 increased positions. They now own 4.91 million shares or 18.11% less from 6.00 million shares in 2016Q1.

Concannon Wealth Management Limited Liability Corporation has 0% invested in the company for 127 shares. Eagle Asset Mgmt last reported 0.01% of its portfolio in the stock. Huntington Financial Bank has 0.09% invested in the company for 118,224 shares. Palo Capital Inc owns 32,400 shares or 0.14% of their US portfolio. Grassi Invest Mgmt owns 28,898 shares or 0.07% of their US portfolio. Moreover, Budros Ruhlin Roe has 0.11% invested in HP Inc (NYSE:HPQ) for 26,946 shares. Int Value Advisers Limited Company owns 731,953 shares or 0.4% of their US portfolio. Diversified Inv Strategies Lc holds 0.91% of its portfolio in HP Inc (NYSE:HPQ) for 49,675 shares. Wedgewood Investors Pa last reported 0.18% of its portfolio in the stock. Private Ocean Ltd Liability Co has 1,916 shares for 0.02% of their US portfolio. Vantage Investment Limited Liability Com holds 732 shares or 0% of its portfolio. Mutual Of Omaha Commercial Bank Wealth Mngmt last reported 0.15% of its portfolio in the stock. Schwartz Counsel Incorporated holds 0.13% of its portfolio in HP Inc (NYSE:HPQ) for 102,000 shares. Moreover, Ferguson Wellman Capital Mgmt has 0.01% invested in HP Inc (NYSE:HPQ) for 11,523 shares. Horrell Capital Management Inc accumulated 0.3% or 27,389 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 4 sales for $4.50 million net activity. $149,414 worth of shares were sold by MYERS MARIE on Monday, August 29. On Monday, August 15 the insider KEOGH TRACY S sold $1.45 million.

HP Inc. is a provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The company has a market cap of $26.25 billion. The Firm operates through three divisions: Personal Systems, Printing and Corporate Investments. It has a 10.05 P/E ratio. The Company’s Personal Systems segment provides commercial personal computers , consumer PCs, workstations, thin client PCs, tablets, retail point-of-sale (POS) systems, calculators and other related accessories, software, support and services for the commercial and consumer markets.

According to Zacks Investment Research, “HP Inc. is the surviving entity following the November 2015 split of Hewlett-Packard Company into publicly traded entities – Hewlett Packard Enterprise Company and HP Inc. The company’s focus will be on the PC and printing products and services. HP Inc. is headquartered in Palo Alto, California.”

HPQ Company Profile

HP Inc., incorporated on February 11, 1998, is a well-known provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The Firm operates through three divisions: Personal Systems, Printing and Corporate Investments. The Firm sells to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including clients in the government, health and education sectors.

More notable recent HP Inc (NYSE:HPQ) news were published by: Wsj.com which released: “HP Inc. Posts Revenue Increase as PC Business Rebounds” on November 22, 2016, also Fortune.com with their article: “HP Inc. Feels Some Pain From Slumping Printer Business” published on November 23, 2016, Nasdaq.com published: “HP Inc. (HPQ) Q4 Earnings Match Estimates, Revenues Beat” on November 23, 2016. More interesting news about HP Inc (NYSE:HPQ) were released by: Marketwatch.com and their article: “Hewlett Packard Enterprise, HP Inc. both drop after earnings” published on November 22, 2016 as well as Forbes.com‘s news article titled: “HP Inc. CMO Antonio Lucio Talks Culture, Ad-Industry Diversity At Forbes CMO …” with publication date: November 21, 2016.

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