Hewlett Packard Enterprise (NYSE:HPE) Upgraded at Raymond James

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued on Monday, Marketbeat.com reports. The firm presently has a $29.00 target price on the technology company’s stock, up from their previous target price of $23.00. Raymond James’ price target indicates a potential upside of 37.64% from the company’s previous close.

Several other research firms also recently weighed in on HPE. Barclays upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $24.00 in a research report on Wednesday, September 25th. Citigroup initiated coverage on Hewlett Packard Enterprise in a research report on Monday, September 23rd. They issued a “neutral” rating and a $20.00 price objective on the stock. UBS Group boosted their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They issued a “hold” rating and a $22.00 price objective on the stock. Finally, Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $24.00 in a research report on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

Hewlett Packard Enterprise Stock Down 1.3 %

HPE stock opened at $21.07 on Monday. The firm has a market cap of $27.36 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 3.27 and a beta of 1.19. The business has a 50 day moving average of $19.87 and a 200 day moving average of $19.47. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, research analysts forecast that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Antonio F. Neri sold 83,334 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the transaction, the chief executive officer now owns 1,758,641 shares of the company’s stock, valued at approximately $34,680,400.52. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeremy Cox sold 7,770 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total value of $163,170.00. Following the transaction, the senior vice president now directly owns 7,771 shares in the company, valued at approximately $163,191. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock valued at $8,599,617 over the last ninety days. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Hewlett Packard Enterprise by 0.8% in the third quarter. Geode Capital Management LLC now owns 31,492,740 shares of the technology company’s stock valued at $642,748,000 after purchasing an additional 251,076 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Hewlett Packard Enterprise by 18.1% in the third quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock valued at $560,274,000 after purchasing an additional 4,194,213 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Hewlett Packard Enterprise by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock valued at $399,507,000 after purchasing an additional 822,722 shares during the period. Legal & General Group Plc boosted its holdings in shares of Hewlett Packard Enterprise by 3.8% in the second quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock valued at $358,602,000 after purchasing an additional 617,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Hewlett Packard Enterprise by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company’s stock valued at $321,149,000 after purchasing an additional 921,624 shares during the period. Institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.