The stock of HP Inc (NYSE:HPQ) hit a new 52-week high and has $23.67 target or 50.00% above today’s $15.78 share price. The 6 months bullish chart indicates low risk for the $26.96B company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $23.67 price target is reached, the company will be worth $13.48B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 698,687 shares traded hands. HP Inc (NYSE:HPQ) has risen 37.75% since March 7, 2016 and is uptrending. It has outperformed by 30.16% the S&P500.
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. Hewlett-Packard has been the topic of 69 analyst reports since August 17, 2015 according to StockzIntelligence Inc. As per Wednesday, November 25, the company rating was initiated by FBN Securities. Raymond James maintained the stock with “Hold” rating in Friday, August 28 report. The stock of HP Inc (NYSE:HPQ) earned “Hold” rating by Needham on Thursday, September 17. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, February 11. The stock of HP Inc (NYSE:HPQ) has “Neutral” rating given on Wednesday, November 4 by UBS. The rating was downgraded by Wells Fargo to “Market Perform” on Thursday, January 7. Deutsche Bank maintained HP Inc (NYSE:HPQ) rating on Friday, October 16. Deutsche Bank has “Buy” rating and $40 price target. The rating was maintained by Deutsche Bank on Thursday, August 25 with “Buy”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, August 22. Barclays Capital initiated the stock with “Underweight” rating in Wednesday, October 14 report.
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.”
Insitutional Activity: The institutional sentiment increased to 0.57 in 2016 Q2. Its up 0.24, from 0.33 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.
Gotham Asset Limited Com holds 0.39% of its portfolio in HP Inc (NYSE:HPQ) for 2.57M shares. Prudential Public Limited Co has 14,000 shares for 0% of their US portfolio. Palisade Asset Mgmt Ltd Liability has 0.07% invested in the company for 29,180 shares. Wendell David Assocs holds 0.07% or 27,700 shares in its portfolio. Blue Bell Private Wealth Management Lc has 0.01% invested in the company for 1,578 shares. Wedgewood Pa has invested 0.18% of its portfolio in HP Inc (NYSE:HPQ). Mitchell Mcleod Pugh Williams has 0.12% invested in the company for 10,985 shares. Eqis Cap Management has invested 0.04% of its portfolio in HP Inc (NYSE:HPQ). Moreover, Greenwich Wealth Mgmt Ltd Limited Liability Company has 0.06% invested in HP Inc (NYSE:HPQ) for 156,109 shares. Focused Wealth has 18,527 shares for 0.11% of their US portfolio. Moreover, Budros Ruhlin & Roe has 0.11% invested in HP Inc (NYSE:HPQ) for 26,946 shares. Prentiss Smith Communications Inc accumulated 0% or 500 shares. Westport Resources, a Connecticut-based fund reported 2,674 shares. Palo Cap Inc holds 32,400 shares or 0.14% of its portfolio. Tirschwell Loewy accumulated 22,000 shares or 0.05% of the stock.
Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 5 sales for $7.13 million net activity. 100,000 shares were sold by KEOGH TRACY S, worth $1.50M on Thursday, September 22. The insider MYERS MARIE sold $149,414.
More notable recent HP Inc (NYSE:HPQ) news were published by: Fortune.com which released: “HP Inc Backtracks On Its Controversial Printer Lockdown” on September 29, 2016, also Fortune.com with their article: “HP Inc. to Buy Samsung’s Printing Business For Over a Billion Dollars” published on September 12, 2016, Fool.com published: “HP Inc’s Latest Deal Could Be a Game Changer” on September 26, 2016. More interesting news about HP Inc (NYSE:HPQ) were released by: Investorplace.com and their article: “HP Inc: Safe Dividend Growth or a Value Trap? (HPQ)” published on September 30, 2016 as well as Fool.com‘s news article titled: “Why HP Inc.’s Deal With Samsung Could Be a Game Changer” with publication date: September 15, 2016.
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.
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