HP Inc. (NYSE:HPQ) does about 7.38M shares in volume on a normal day but saw 4780701 shares change hands in Monday trading. The company now has a market cap of 27.13B USD. Its current market price is $28.60, marking an increase of 2.47% compared to the previous close of $27.91. The 52 week high reached by this stock is $41.47 whilst the lowest price level in 52 weeks is $24.08. The script in recent trading has seen the stock touch a high of $28.785 and a low of $28.05.
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HP Inc. (HPQ) has a 20-day trading average at $27.60 and the current price is -31.03% off the 52-week high compared with 18.80% distance from its 52-week low. The 50-day simple moving average of the closing price is $28.34 and its 200-day simple moving average is $31.34. If we look at the stock’s price movements over the week, volatility stands at 2.57%, which decreases to 2.34% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.40 to suggest the stock is neutral.
18 analysts observing the HP Inc. (HPQ) stock have set the 12-month price targets for the company’s shares at between $24.00 and $33.00. The consensus objective for the share price is $29.34, suggesting that the stock has a potential upside of 2.52% over the period. The median price target is 4.67% away from the current levels at $30.00.
FactSet Research has provided data showing that 18 brokerages have issued ratings for the stock. 3 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 13 have advised that investors hold their positions. The consensus recommendation rating is Hold.
Loop Capital also downgraded the stock to “Hold” from Buy on September 01, 2022 at a price target of $50-$29. Wells Fargo downgraded its price target at $35-$30.
The current price level is 3.97%, 0.91%, and -8.85% away from its SMA20, SMA50, and SMA200 respectively, with the HPQ price moving above the 50-day SMA on January 23. HP Inc. (HPQ) stock is up 2.47% over the week and 7.48% over the past month. Its price is 6.44% year-to-date and -20.80% over the past year.
The company’s next earnings report is expected on 02/23/2023.
Its 12-month price target is $30.00. To reach the target analysts have set, the stock logically needs to grow 2.52 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $24.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $33.00.
Outstanding shares total 996.00M with insiders holding 0.21% of the shares and institutional holders owning 83.68% of the company’s common stock. The company has a return on investment of 42.50% and return on equity of -135.40%. The price to earnings ratio (P/E ratio) amounts to 9.49 while the forward price to earnings ratio is 7.79. The beta has a value of 1.02. Price to sales ratio is 0.43.
According to a U.S. Securities and Exchange Commission filing, Dodge & Cox Stock Fund has reduced its position in HP Inc. (HPQ) to 37,417,656 shares, mirroring a recent drop by -1.98%. Dodge & Cox Stock Fund dumped -0.75 million shares of HP Inc. common stock bringing its total worth to about $1.01 billion at the end of recent close, SEC documents show. Dodge & Cox Stock Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off -0.47 million shares to end up with 27,540,071 shares worth $740.0 million. Vanguard 500 Index Fund cut their holdings by -1.91% in the company over the course of the most recent quarter. It now holds a 2.08% position in HP Inc. thanks to 20.46 million shares amounting to $549.63 million.
