Today’s Rating On Watch: Jefferies Gives HP (NYSE:HPQ) Lower Rating. Lost Its “Buy” Rating

November 23, 2016 - By whatsonthorold

Today's Rating On Watch: Jefferies Gives HP (NYSE:HPQ) Lower Rating. Lost Its

HP (NYSE:HPQ) Downgrade

HP (NYSE:HPQ) was cut by Jefferies from a “Buy” rating to a “Hold” rating in a an analyst report sent to clients and investors on Wednesday morning.

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 39.68% above today’s ($15.4) stock price. Hewlett-Packard has been the topic of 72 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Bernstein initiated HP Inc (NYSE:HPQ) on Tuesday, November 3 with “Outperform” rating. Bernstein maintained the stock with “Outperform” rating in Monday, August 24 report. Jefferies initiated HP Inc (NYSE:HPQ) on Monday, November 2 with “Buy” rating. The firm has “Neutral” rating given on Tuesday, September 22 by Goldman Sachs. The rating was initiated by Needham with “Buy” on Monday, November 2. The stock of HP Inc (NYSE:HPQ) earned “Market Perform” rating by BMO Capital Markets on Thursday, August 25. The firm has “Strong Buy” rating given on Thursday, September 17 by Scotia Capital. The firm earned “Neutral” rating on Wednesday, November 4 by JP Morgan. Barclays Capital maintained HP Inc (NYSE:HPQ) on Friday, October 14 with “Equal-Weight” rating. Pacific Crest maintained the shares of HPQ in a report on Monday, August 24 with “Equal Weight” rating.

About 6.42 million 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 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.

Gemmer Asset Mngmt Ltd Com last reported 1,704 shares in the company. Palo Inc accumulated 0.14% or 32,400 shares. Prentiss Smith has 0% invested in the company for 500 shares. Balasa Dinverno And Foltz Ltd Limited Liability Company, a Illinois-based fund reported 65,334 shares. Schwartz Investment Counsel Incorporated holds 102,000 shares or 0.13% of its portfolio. Blue Bell Private Wealth Mngmt Lc last reported 0.01% of its portfolio in the stock. Budros Ruhlin And Roe accumulated 0.11% or 26,946 shares. Mitchell Mcleod Pugh And Williams holds 0.12% of its portfolio in HP Inc (NYSE:HPQ) for 10,985 shares. Horrell Mngmt accumulated 27,389 shares or 0.3% of the stock. North Star Asset reported 28,619 shares or 0.04% of all its holdings. Grassi Invest, a California-based fund reported 28,898 shares. Eqis Cap Mngmt accumulated 0.04% or 27,286 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh has 0.03% invested in the company for 17,200 shares. The Florida-based Eagle Asset Management has invested 0.01% in HP Inc (NYSE:HPQ). Wendell David Inc, a New Hampshire-based fund reported 27,700 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 4 sales for $4.50 million net activity. KEOGH TRACY S also sold $1.50M worth of HP Inc (NYSE:HPQ) shares. $149,414 worth of shares were sold by MYERS MARIE on Monday, August 29.

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 $26.27 billion. The Firm operates through three divisions: Personal Systems, Printing and Corporate Investments. It has a 10.06 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 Streetinsider.com‘s news article titled: “HP, Inc. (HPQ) Reports In-Line Q4 EPS; Guides Q1 EPS Midpoint Below Consensus” with publication date: November 22, 2016.

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