Barclays Reiterates a Hold Rating on HP Inc

By Ryan Adsit

In a report released today, Mark Moskowitz from Barclays reiterated a Hold rating on HP Inc (NYSE: HPQ), with a price target of $15. The company’s shares opened today at $15.35, close to its 52-week high of $16.19.

Moskowitz wrote:

“We expect shares of HP Inc. to be under pressure in the near term, as the results were decent but the outlook was soft. HP’s Personal Systems performance continued to be a bright spot, and it could be a positive lateral read-through for PC or consumer-related stocks, including WD and Seagate. However, disappointing printing trend-lines contribute to a softer EPS guide for the Jan-Q.”

According to TipRanks.com, Moskowitz is a 5-star analyst with an average return of 13.8% and a 61.6% success rate. Moskowitz covers the Technology sector, focusing on stocks such as National Instruments Corp., Hewlett Packard Enterprise, and Lexmark International.

Currently, the analyst consensus on HP Inc is Moderate Buy and the average price target is $16.16, representing a 5.3% upside.

In a report released today, Jefferies also downgraded the stock to Hold with a $16.75 price target.

The company has a one year high of $16.19 and a one year low of $8.91. Currently, HP Inc has an average volume of 12.54M.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HPQ in relation to earlier this year. Earlier this month, Margaret Whitman, a Director at HPQ bought 4,234 shares for a total of $65,585.

HP Inc. provides products, technologies, software, solutions and services to individual consumers, small and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. It operates through following business segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment provides commercial personal computers, consumer PCs, workstations, calculators and other related accessories, software and services for the commercial and consumer markets. The Printing segment provides consumer and commercial printer hardware, supplies, media and scanning devices. Printing is also focused on imaging solutions in the commercial markets. The Corporate Investments segment includes HP Labs, the webOS business and certain business incubation projects. The company was founded by William R. Hewlett and David Packard in January 1939 and is headquartered in Palo Alto, CA.