XPO Logistics (NYSE:XPO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage presently has a $103.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.09% 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 equities analysts also recently issued reports on XPO. Credit Suisse Group upped their price target on XPO Logistics from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, September 29th. Macquarie reaffirmed an “outperform” rating and set a $105.00 price target (up from $80.00) on shares of XPO Logistics in a research report on Tuesday. Stifel Nicolaus upped their price target on XPO Logistics from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Barclays upped their price target on XPO Logistics from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, October 2nd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $75.00 price target on shares of XPO Logistics in a research report on Thursday, October 12th. One research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. XPO Logistics currently has an average rating of “Buy” and a consensus target price of $83.39.
XPO Logistics (NYSE:XPO) last posted its earnings results on Wednesday, November 1st. The transportation company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.79 billion. XPO Logistics had a return on equity of 7.01% and a net margin of 1.11%. XPO Logistics’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. research analysts anticipate that XPO Logistics will post 1.92 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XPO. American Century Companies Inc. increased its position in shares of XPO Logistics by 94.6% in the 3rd quarter. American Century Companies Inc. now owns 3,070,080 shares of the transportation company’s stock valued at $208,090,000 after acquiring an additional 1,492,525 shares during the period. FMR LLC increased its position in shares of XPO Logistics by 73.3% in the 2nd quarter. FMR LLC now owns 2,893,788 shares of the transportation company’s stock valued at $187,026,000 after acquiring an additional 1,223,543 shares during the period. Vanguard Group Inc. increased its position in shares of XPO Logistics by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 9,150,749 shares of the transportation company’s stock valued at $591,414,000 after acquiring an additional 718,511 shares during the period. Victory Capital Management Inc. increased its position in shares of XPO Logistics by 37.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,205,435 shares of the transportation company’s stock valued at $149,485,000 after acquiring an additional 603,866 shares during the period. Finally, Castleark Management LLC acquired a new position in shares of XPO Logistics in the 2nd quarter valued at $30,551,000.
About XPO Logistics
XPO Logistics, Inc is a global provider of supply chain solutions. The Company operates in two segments: Transportation and Logistics. The Transportation segment provides freight brokerage, last mile, less-than-truckload (LTL), full truckload and global forwarding services. The Logistics segment provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution, cold chain solutions and other inventory solutions.
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