Helmerich & Payne Inc. (NYSE: HP) has recently experienced extremely important negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, and its longer term price trend turned down.
Notable negative changes in fundamentals have recently occurred for Helmerich & Payne Inc. (NYSE: HP): the stock’s power rating fell below 50, and significant quarterly sales deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
HP’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Helmerich & Payne has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Helmerich & Payne has a good Appreciation Score of 81 but a neutral Power Rating of 40, leading to the High Neutral Value Trend Rating.
Recent Price Action
Helmerich & Payne Inc. (NYSE: HP) stock closed at $39.33 on 4/30/24 after a decline of -3.7%. Trading volume in this decline was normal. The stock has been weak relative to the market over the last nine months and has declined -4.6% during the last week.
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