XPO Logistics Inc. (XPO) Raised to “Buy” at Zacks Investment Research
XPO Logistics Inc. (NYSE:XPO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $41.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 12.05% from the stock’s current price.
According to Zacks, “XPO Logistics, Inc. is a third-party logistics provider offering expedient, single-source solutions for time-critical and service-sensitive shipments through its non-asset based transportation network. XPO serves customers in the U.S, Canada and Mexico with domestic and international freight destinations. XPO’s suite of logistics services is offered through three brands: expedited surface transportation through Express-1, Inc., domestic and international freight forwarding services through Concert Group Logistics, Inc., and truckload brokerage services through Bounce Logistics, Inc. XPO Logistics, Inc., formerly known as Express-1 Expedited Solutions, Inc., is based in Buchanan, Michigan. “
A number of other research analysts also recently weighed in on XPO. Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of XPO Logistics in a report on Wednesday, August 3rd. Stifel Nicolaus lifted their price target on XPO Logistics from $35.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 5th. Cowen and Company lifted their price target on XPO Logistics from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Deutsche Bank AG lifted their price objective on XPO Logistics from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on XPO Logistics from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. XPO Logistics presently has a consensus rating of “Buy” and a consensus price target of $42.20.
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XPO Logistics (NYSE:XPO) traded down 0.19% during mid-day trading on Wednesday, reaching $36.52. The company’s stock had a trading volume of 229,634 shares. The firm has a 50 day moving average price of $35.67 and a 200-day moving average price of $31.02. The company’s market capitalization is $4.02 billion. XPO Logistics has a 1-year low of $18.04 and a 1-year high of $37.94.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.15. XPO Logistics had a positive return on equity of 0.14% and a negative net margin of 1.01%. The business had revenue of $3.68 billion for the quarter. During the same quarter in the prior year, the firm posted ($0.16) EPS. The business’s quarterly revenue was up 202.9% compared to the same quarter last year. On average, equities analysts predict that XPO Logistics will post $0.97 EPS for the current fiscal year.
In other XPO Logistics news, major shareholder Private Ltd Gic sold 145,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $37.42, for a total value of $5,425,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 17.20% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in XPO. BNP Paribas Arbitrage SA bought a new stake in shares of XPO Logistics during the second quarter worth $102,000. Orbis Allan Gray Ltd bought a new stake in shares of XPO Logistics during the first quarter worth $551,439,000. Envestnet Asset Management Inc. boosted its stake in shares of XPO Logistics by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 39,022 shares of the company’s stock worth $1,198,000 after buying an additional 692 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of XPO Logistics by 3.4% in the first quarter. Geode Capital Management LLC now owns 549,460 shares of the company’s stock worth $16,868,000 after buying an additional 17,976 shares in the last quarter. Finally, Fairfield Bush & CO. boosted its stake in shares of XPO Logistics by 13.3% in the first quarter. Fairfield Bush & CO. now owns 11,700 shares of the company’s stock worth $359,000 after buying an additional 1,375 shares in the last quarter. 94.27% of the stock is owned by institutional investors.
XPO Logistics Company Profile
XPO Logistics (NYSE:XPO) is a global logistics company operating in 34 countries, with over 88,000 employees and 1,440 locations. The company provides supply chain solutions in two reporting segments: transportation and logistics. The logistics segment offers e-commerce fulfillment, reverse logistics, factory and aftermarket support, packaging and labeling, distribution and managed transportation.
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