XPO Logistics Inc. (XPO) Upgraded by Zacks Investment Research to Buy
XPO Logistics Inc. (NYSE:XPO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $41.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.05% from the company’s previous close.
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 have also recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of XPO Logistics in a report on Monday, July 11th. They issued an “overweight” rating and a $40.00 target price for the company. Oppenheimer Holdings Inc. increased their target price on shares of XPO Logistics from $33.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of XPO Logistics in a report on Wednesday, June 22nd. Cowen and Company increased their target price on shares of XPO Logistics from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Stifel Nicolaus increased their target price on shares of XPO Logistics from $35.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.20.
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XPO Logistics (NYSE:XPO) traded down 0.03% during midday trading on Wednesday, reaching $36.58. 170,132 shares of the company traded hands. XPO Logistics has a 12 month low of $18.04 and a 12 month high of $37.94. The firm has a 50 day moving average of $35.67 and a 200-day moving average of $31.02. The stock’s market capitalization is $4.03 billion.
XPO Logistics (NYSE:XPO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.15. XPO Logistics had a negative net margin of 1.01% and a positive return on equity of 0.14%. The firm earned $3.68 billion during the quarter. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 202.9% on a year-over-year basis. Analysts forecast that XPO Logistics will post $0.97 EPS for the current fiscal year.
In related news, major shareholder Private Ltd Gic sold 550,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $36.82, for a total transaction of $20,251,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Orbis Allan Gray Ltd purchased a new stake in shares of XPO Logistics during the first quarter worth about $551,439,000. Vanguard Group Inc. raised its stake in shares of XPO Logistics by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,886,564 shares of the company’s stock worth $180,841,000 after buying an additional 154,909 shares during the period. BlackRock Fund Advisors raised its stake in shares of XPO Logistics by 34.8% in the second quarter. BlackRock Fund Advisors now owns 2,355,474 shares of the company’s stock worth $61,855,000 after buying an additional 608,252 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of XPO Logistics by 14.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,325,241 shares of the company’s stock worth $61,061,000 after buying an additional 300,877 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of XPO Logistics by 56.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,033,893 shares of the company’s stock worth $53,405,000 after buying an additional 730,581 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.
About XPO Logistics
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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