Is HP, Inc. overvalued or undervalued?

As of 24 February 2016, the valuation grade for HP, Inc. has moved from very attractive to risky, indicating a significant shift in its perceived value. The company appears to be undervalued, particularly given its low P/E ratio of 8, which is substantially below the peer Dell Technologies, Inc. with a P/E of 19.75. Additionally, HP's EV to EBITDA ratio stands at 7.33, while Dell's is higher at 11.79, further highlighting the disparity in valuation between the two companies.
Despite the attractive dividend yield of 471.07% and a strong ROCE of 49.82%, the negative book value and the troubling trend in stock performance—where HP has underperformed the S&P 500 significantly over various time frames—raise concerns about its long-term viability. The current price of $23.91, compared to its 52-week high of $39.80, suggests that the market may be undervaluing HP, especially in light of its financial metrics relative to peers.