Bank of America Has Lowered Expectations for XPO (NYSE:XPO) Stock Price

XPO (NYSE:XPO) had its price target reduced by Bank of America from $150.00 to $131.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other equities analysts have also weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $171.00 price objective on shares of XPO in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on shares of XPO from $170.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday. Susquehanna raised shares of XPO from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $155.00 to $180.00 in a research note on Friday, February 7th. Truist Financial initiated coverage on shares of XPO in a report on Thursday, March 13th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Raymond James cut their target price on XPO from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat, XPO currently has an average rating of “Buy” and a consensus price target of $155.37.

XPO Trading Down 5.2 %

NYSE XPO opened at $107.36 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08. XPO has a 1-year low of $97.03 and a 1-year high of $161.00. The firm’s fifty day simple moving average is $125.98 and its 200-day simple moving average is $129.96. The company has a market capitalization of $12.59 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last issued its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. As a group, sell-side analysts anticipate that XPO will post 4.15 earnings per share for the current fiscal year.

XPO announced that its board has authorized a stock repurchase plan on Thursday, March 27th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, COO David J. Bates bought 1,880 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the purchase, the chief operating officer now directly owns 21,106 shares in the company, valued at $2,240,612.96. This trade represents a 9.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Institutional Trading of XPO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors lifted its stake in shares of XPO by 18.5% in the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock valued at $1,789,171,000 after buying an additional 2,125,686 shares during the period. Vanguard Group Inc. raised its holdings in XPO by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,034,926 shares of the transportation company’s stock valued at $1,447,231,000 after acquiring an additional 79,393 shares in the last quarter. Capital World Investors lifted its position in shares of XPO by 26.1% in the 4th quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock worth $1,016,923,000 after acquiring an additional 1,605,001 shares during the period. D1 Capital Partners L.P. grew its holdings in shares of XPO by 84.2% during the 3rd quarter. D1 Capital Partners L.P. now owns 4,711,042 shares of the transportation company’s stock worth $506,484,000 after purchasing an additional 2,153,042 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of XPO by 1.1% during the 3rd quarter. State Street Corp now owns 3,477,846 shares of the transportation company’s stock worth $373,903,000 after purchasing an additional 37,486 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.