Xerox Corporation (NYSE:XRX)‘s stock had its “buy” rating restated by investment analysts at Loop Capital in a note issued to investors on Tuesday. They presently have a $38.00 price objective on the information technology services provider’s stock, up from their prior price objective of $36.00. Loop Capital’s price target would suggest a potential upside of 17.61% from the company’s current price.

A number of other research firms have also issued reports on XRX. ValuEngine lowered Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC upgraded Xerox Corporation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $27.00 to $33.00 in a research note on Monday, July 24th. Zacks Investment Research upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. BidaskClub upgraded Xerox Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $34.00 price objective on shares of Xerox Corporation in a research note on Wednesday, April 26th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Xerox Corporation currently has a consensus rating of “Buy” and a consensus target price of $37.23.

Shares of Xerox Corporation (NYSE XRX) traded down 0.62% on Tuesday, hitting $32.31. The company had a trading volume of 2,395,344 shares. Xerox Corporation has a 1-year low of $22.90 and a 1-year high of $32.99. The company has a 50 day moving average price of $29.57 and a 200 day moving average price of $28.83. The firm’s market capitalization is $8.21 billion.

Xerox Corporation (NYSE:XRX) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities analysts forecast that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock valued at $510,230,000 after buying an additional 65,914,755 shares during the period. Ameriprise Financial Inc. raised its position in shares of Xerox Corporation by 758.2% in the first quarter. Ameriprise Financial Inc. now owns 7,912,787 shares of the information technology services provider’s stock valued at $58,084,000 after buying an additional 6,990,756 shares during the period. KBC Group NV raised its position in shares of Xerox Corporation by 163.4% in the first quarter. KBC Group NV now owns 6,901,550 shares of the information technology services provider’s stock valued at $50,658,000 after buying an additional 4,281,339 shares during the period. Gotham Asset Management LLC raised its position in shares of Xerox Corporation by 2,304.7% in the first quarter. Gotham Asset Management LLC now owns 3,606,346 shares of the information technology services provider’s stock valued at $26,471,000 after buying an additional 3,456,374 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Xerox Corporation by 25.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock valued at $122,775,000 after buying an additional 3,341,049 shares during the period.

About Xerox Corporation

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

Analyst Recommendations for Xerox Corporation (NYSE:XRX)

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