Hewlett Packard Enterprise (NYSE:HPE) Stock Rating Upgraded by Barclays

Hewlett Packard Enterprise (NYSE:HPE) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $24.00 price objective on the technology company’s stock, up from their previous price objective of $20.00. Barclays‘s price objective indicates a potential upside of 17.94% from the company’s current price.

A number of other equities research analysts have also recently commented on HPE. StockNews.com upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Loop Capital upped their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a report on Monday, September 9th. Evercore ISI boosted their price objective on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, June 5th. Citigroup started coverage on shares of Hewlett Packard Enterprise in a research report on Monday. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Argus upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, June 7th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hewlett Packard Enterprise has an average rating of “Hold” and a consensus price target of $21.31.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE opened at $20.35 on Wednesday. The firm has a market capitalization of $26.45 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. The business’s 50 day simple moving average is $18.57 and its 200-day simple moving average is $18.64. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. As a group, equities analysts forecast that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Hewlett Packard Enterprise

In other news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the sale, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Hewlett Packard Enterprise

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Hewlett Packard Enterprise during the 2nd quarter valued at approximately $5,854,000. Cetera Investment Advisers raised its holdings in Hewlett Packard Enterprise by 30.2% in the second quarter. Cetera Investment Advisers now owns 157,793 shares of the technology company’s stock valued at $3,341,000 after acquiring an additional 36,589 shares in the last quarter. Truist Financial Corp boosted its stake in Hewlett Packard Enterprise by 16.8% during the 2nd quarter. Truist Financial Corp now owns 390,521 shares of the technology company’s stock valued at $8,267,000 after acquiring an additional 56,288 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Hewlett Packard Enterprise during the 2nd quarter worth $684,000. Finally, EP Wealth Advisors LLC grew its stake in Hewlett Packard Enterprise by 20.3% in the second quarter. EP Wealth Advisors LLC now owns 30,741 shares of the technology company’s stock worth $651,000 after purchasing an additional 5,183 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

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.