OTR Global Downgrades Hewlett Packard Enterprise (HPE) to Positive

Hewlett Packard Enterprise (NYSE:HPE) was downgraded by stock analysts at OTR Global to a “positive” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other research analysts have also weighed in on HPE. Sanford C. Bernstein reissued a “buy” rating and issued a $18.00 target price on shares of Hewlett Packard Enterprise in a report on Wednesday, November 22nd. Goldman Sachs Group began coverage on shares of Hewlett Packard Enterprise in a report on Wednesday, February 7th. They issued a “neutral” rating and a $16.00 target price for the company. TheStreet raised shares of Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a report on Monday, October 16th. Oppenheimer reissued a “buy” rating and issued a $17.00 target price on shares of Hewlett Packard Enterprise in a report on Wednesday, November 22nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $15.00 target price on shares of Hewlett Packard Enterprise in a report on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have issued a buy rating to the company. Hewlett Packard Enterprise presently has an average rating of “Hold” and an average target price of $16.16.

Shares of Hewlett Packard Enterprise (NYSE:HPE) opened at $16.15 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. Hewlett Packard Enterprise has a fifty-two week low of $12.81 and a fifty-two week high of $24.88. The stock has a market cap of $24,657.42, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 2.60 and a beta of 2.50.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, November 21st. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Hewlett Packard Enterprise had a net margin of 0.93% and a return on equity of 7.70%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.78 billion. During the same period last year, the firm posted $0.61 EPS. The company’s revenue was up 4.6% on a year-over-year basis. equities research analysts anticipate that Hewlett Packard Enterprise will post 1.19 earnings per share for the current year.

Hewlett Packard Enterprise announced that its board has authorized a stock repurchase program on Wednesday, October 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

In other news, Director Margaret C. Whitman sold 242,165 shares of Hewlett Packard Enterprise stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $15.27, for a total transaction of $3,697,859.55. Following the completion of the sale, the director now directly owns 1,705,823 shares in the company, valued at $26,047,917.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Richard May sold 7,607 shares of Hewlett Packard Enterprise stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $14.42, for a total value of $109,692.94. Following the sale, the executive vice president now owns 100,079 shares of the company’s stock, valued at $1,443,139.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,407,123 shares of company stock valued at $22,389,810. Corporate insiders own 0.87% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its position in shares of Hewlett Packard Enterprise by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 5,602,984 shares of the technology company’s stock worth $82,420,000 after purchasing an additional 45,636 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Hewlett Packard Enterprise by 58.3% during the third quarter. First Trust Advisors LP now owns 6,167,004 shares of the technology company’s stock worth $90,717,000 after purchasing an additional 2,270,669 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Hewlett Packard Enterprise by 3.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 6,111,912 shares of the technology company’s stock worth $89,907,000 after purchasing an additional 183,567 shares during the last quarter. Thompson Investment Management Inc. raised its holdings in shares of Hewlett Packard Enterprise by 29.4% in the third quarter. Thompson Investment Management Inc. now owns 37,620 shares of the technology company’s stock valued at $553,000 after acquiring an additional 8,550 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Hewlett Packard Enterprise by 1.4% in the third quarter. Wells Fargo & Company MN now owns 4,936,759 shares of the technology company’s stock valued at $72,620,000 after acquiring an additional 68,373 shares in the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.

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About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

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