Rating Reporting: Jefferies & Co Gives Hewlett-Packard (NYSE:HPQ) Lower Rating. What Is Next?

November 23, 2016 - By Winifred Garcia

Rating Reporting: Jefferies & Co Gives Hewlett Packard (NYSE:HPQ) Lower Rating. What Is Next?

Hewlett-Packard (NYSE:HPQ) Downgrade

Equity research analysts at Jefferies & Co’s equity division cut Hewlett-Packard (NYSE:HPQ)‘s stock rating from “Buy” to “Hold” on Wednesday, 23 November.

HP Inc (NYSE:HPQ) Ratings Coverage

Out of 25 analysts covering Hewlett-Packard (NYSE:HPQ), 8 rate it a “Buy”, 0 “Sell”, while 17 “Hold”. This means 32% are positive. $45 is the highest target while $6 is the lowest. The $21.51 average target is 43.98% above today’s ($14.94) stock price. Hewlett-Packard has been the topic of 72 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, October 10. Goldman Sachs initiated the stock with “Neutral” rating in Monday, October 26 report. The firm earned “Buy” rating on Friday, October 16 by Deutsche Bank. The stock of HP Inc (NYSE:HPQ) earned “Buy” rating by Jefferies on Monday, November 2. The firm has “Buy” rating given on Friday, August 28 by S&P Research. The firm has “Sector Perform” rating given on Monday, November 2 by RBC Capital Markets. The company was maintained on Wednesday, November 25 by Credit Suisse. The company was downgraded on Thursday, August 25 by Maxim Group. The stock of HP Inc (NYSE:HPQ) earned “Buy” rating by Needham on Monday, November 2. The rating was initiated by Wells Fargo with “Outperform” on Tuesday, November 3.

About 13.53M shares traded hands. HP Inc (NYSE: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 Q2 2016. Its up 0.18, from 0.57 in 2016Q1. The ratio increased, 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.

Balasa Dinverno & Foltz Llc has 65,334 shares for 0.15% of their US portfolio. Private Ocean Ltd Liability Com accumulated 0.02% or 1,916 shares. Westport Resources has 2,674 shares for 0.01% of their US portfolio. Wendell David accumulated 0.07% or 27,700 shares. Gotham Asset Mgmt Lc last reported 0.39% of its portfolio in the stock. The California-based West Oak Capital Limited Liability has invested 0% in HP Inc (NYSE:HPQ). Huntington National Bank & Trust owns 118,224 shares or 0.09% of their US portfolio. Eqis Cap last reported 27,286 shares in the company. North Star Asset Mngmt accumulated 28,619 shares or 0.04% of the stock. The California-based Nelson Roberts Invest Advsr Limited Co has invested 0% in HP Inc (NYSE:HPQ). Palisade Asset Mgmt Ltd holds 0.07% of its portfolio in HP Inc (NYSE:HPQ) for 29,180 shares. Budros Ruhlin & Roe reported 26,946 shares or 0.11% of all its holdings. Mitchell Mcleod Pugh & Williams, a Alabama-based fund reported 10,985 shares. Moreover, Meag Munich Ergo Kapitalanlagegesellschaft Mbh has 0.03% invested in HP Inc (NYSE:HPQ) for 17,200 shares. Prudential Public Limited holds 14,000 shares or 0% of its portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 4 sales for $4.50 million net activity. KEOGH TRACY S sold $2.63M worth of stock or 200,000 shares. MYERS MARIE sold 10,269 shares worth $149,414.

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 $25.47 billion. The Firm operates through three divisions: Personal Systems, Printing and Corporate Investments. It has a 9.76 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 Bloomberg.com‘s news article titled: “HP Inc. Sees Profit That May Fall Before Planned Cost Cuts” with publication date: November 22, 2016.

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