why HP Inc [HPQ] is a Good Choice for Investors After New Price Target of $30.05

HP Inc [NYSE: HPQ] plunged by -$0.18 during the normal trading session on Tuesday and reaching a high of $29.156 during the day while it closed the day at $28.86. The company report on November 21, 2023 at 4:15 PM that HP Inc. Reports Fiscal 2023 Full Year and Fourth Quarter Results.

HP (NYSE: HPQ).

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

Fiscal 2023 GAAP diluted net earnings per share (“EPS”) of $3.26, above the previously provided outlook of $2.95 to $3.07 per share.

HP Inc stock has also gained 0.77% of its value over the past 7 days. However, HPQ stock has declined by -4.22% in the 3 months of the year. Over the past six months meanwhile, it has lost -2.66% and gained 7.41% year-on date.

The market cap for HPQ stock reached $28.52 billion, with 988.27 million shares outstanding and 986.17 million shares in the current float. Compared to the average trading volume of 8.34M shares, HPQ reached a trading volume of 13823032 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 $30.05 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 2.56. 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.

Citigroup have made an estimate for HP Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 13, 2023.

The Average True Range (ATR) for HP Inc is set at 0.55, with the Price to Sales ratio for HPQ stock in the period of the last 12 months amounting to 0.53. Price to Free Cash Flow for HPQ in the course of the last twelve months was 9.63 with Quick ratio for the last quarter at 0.45.

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 0.77. With this latest performance, HPQ shares gained by 5.25% in over the last four-week period, additionally sinking by -2.66% over the last 6 months – not to mention a drop of -2.63% 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 60.33, with the RSI for the last a single of trading hit 58.83, and the three-weeks RSI is set at 58.52 for HP Inc [HPQ]. The present Moving Average for the last 50 days of trading for this stock 27.11, while it was recorded at 29.16 for the last single week of trading, and 29.35 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 +7.86 and a Gross Margin at +20.77. HP Inc’s Net Margin is presently recorded at +6.07.

Return on Total Capital for HPQ is now 47.76, given the latest momentum, and Return on Invested Capital for the company is 38.77. Additionally, HPQ Total Debt to Total Capital is recorded at 112.70, with Total Debt to Total Assets ending up at 25.63.

Receivables Turnover for the company is 9.65 with a Total Asset Turnover recorded at a value of 1.42.HP Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.45 and a Current Ratio set at 0.73.

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 7.73%.

HP Inc [HPQ]: Institutional Ownership

The top three institutional holders of HPQ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HPQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HPQ stock with ownership which is approximately 5.7994%.