Wells Fargo Remains a Hold on HP (HPQ)

In a report released today, Aaron Rakers from Wells Fargo maintained a Hold rating on HP (HPQ). The company’s shares closed last Monday at $17.84.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 15.7% and a 61.0% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Western Digital, and Cisco Systems.

HP has an analyst consensus of Moderate Buy, with a price target consensus of $21.83, which is a 28.9% upside from current levels. In a report issued on March 18, Deutsche Bank also maintained a Hold rating on the stock with a $20.00 price target.

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Based on HP’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $14.62 billion and net profit of $678 million. In comparison, last year the company earned revenue of $14.71 billion and had a net profit of $803 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HPQ in relation to earlier this year. Last month, Tracy Keogh, the Chief HR Officer of HPQ sold 58,638 shares for a total of $1,348,674.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

HP Inc. enages in the provision of personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services. It operates through following business segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers commercial and consumer desktop and notebook personal computers, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support and services for the commercial and consumer markets. The Printing segment gives consumer and commercial printer hardware, supplies, solutions and services,and scanning devices. The Corporate Investments segment includes HP Labs and certain business incubation projects. The company was founded by William R. Hewlett and David Packard in 1939 and is headquartered in Palo Alto, CA.

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