Market Analysts see HP Inc. [HPQ] falling to $29. Time to buy?

HP Inc. [NYSE: HPQ] closed the trading session at $27.06 on 10/24/22. The day’s price range saw the stock hit a low of $26.735, while the highest price level was $27.25. The company report on October 19, 2022 that HP Announces Commencement of Change of Control Offer for 4.750% Notes due 2029.

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As previously announced, on August 29, 2022, HP completed its acquisition (the “Acquisition”) of Plantronics, Inc. (“Poly”). In connection with the Acquisition, HP completed its previously announced offer to exchange (the “Exchange Offer”) any and all outstanding notes of Poly (the “Poly Notes”) for up to $500,000,000 aggregate principal amount of the Notes. Pursuant to the Exchange Offer, $491,116,000 aggregate principal amount of the Poly Notes were validly tendered and accepted by HP and a corresponding principal amount of Notes were issued in exchange therefor.

The stocks have a year to date performance of -28.17 percent and weekly performance of 5.33 percent. The stock has been moved at -26.86 percent over the last six months. The stock has performed 6.75 percent around the most recent 30 days and changed -15.31 percent over the most recent 3-months.

If compared to the average trading volume of 9.18M shares, HPQ reached to a volume of 5638163 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about HP Inc. [HPQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HPQ shares is $30.24 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HPQ stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Loop Capital have made an estimate for HP Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 01, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $35 to $30. The new note on the price target was released on August 19, 2022, representing the official price target for HP Inc. stock. Previously, the target price had yet another raise to $39, while Credit Suisse analysts kept a Outperform rating on HPQ stock. On July 05, 2022, analysts decreased their price target for HPQ shares from 43 to 36.

The Average True Range (ATR) for HP Inc. is set at 0.91, with the Price to Sales ratio for HPQ stock in the period of the last 12 months amounting to 0.40. Price to Free Cash Flow for HPQ in the course of the last twelve months was 7.26 with Quick ratio for the last quarter at 0.60.

HPQ stock trade performance evaluation

HP Inc. [HPQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.33. With this latest performance, HPQ shares gained by 6.75% in over the last four-week period, additionally sinking by -26.86% over the last 6 months – not to mention a drop of -11.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HPQ stock in for the last two-week period is set at 55.62, with the RSI for the last a single of trading hit 64.90, and the three-weeks RSI is set at 49.97 for HP Inc. [HPQ]. The present Moving Average for the last 50 days of trading for this stock 28.04, while it was recorded at 26.09 for the last single week of trading, and 33.95 for the last 200 days.

HP Inc. [HPQ]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and HP Inc. [HPQ] shares currently have an operating margin of +9.10 and a Gross Margin at +21.11. HP Inc.’s Net Margin is presently recorded at +10.21.

HP Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for HP Inc. [HPQ] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HPQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for HP Inc. go to 1.23%.

HP Inc. [HPQ]: Insider Ownership positions

There are presently around $22,968 million, or 86.40% of HPQ stock, in the hands of institutional investors. The top three institutional holders of HPQ stocks are: BERKSHIRE HATHAWAY INC with ownership of 104,476,035, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 99,239,585 shares of the stock with an approximate value of $2.69 billion in HPQ stocks shares; and BLACKROCK INC., currently with $2.66 billion in HPQ stock with ownership of nearly -2.788% of the company’s market capitalization.

Positions in HP Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 454 institutional holders increased their position in HP Inc. [NYSE:HPQ] by around 47,721,836 shares. Additionally, 507 investors decreased positions by around 88,038,538 shares, while 197 investors held positions by with 713,032,502 shares. The mentioned changes placed institutional holdings at 848,792,876 shares, according to the latest SEC report filing. HPQ stock had 90 new institutional investments in for a total of 8,869,394 shares, while 101 institutional investors sold positions of 6,415,011 shares during the same period.


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