XPO Logistics Inc. (XPO) Rating Increased 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 on Wednesday. The firm presently has a $41.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 17.75% 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. “
Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on XPO Logistics in a research note on Monday, July 11th. They set an “overweight” rating and a $40.00 price objective on the stock. Oppenheimer Holdings Inc. raised their price objective on XPO Logistics from $33.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Deutsche Bank AG restated a “buy” rating on shares of XPO Logistics in a research note on Wednesday, June 22nd. Cowen and Company raised their target price on XPO Logistics from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, Stifel Nicolaus raised their target price on XPO Logistics from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $42.20.
XPO Logistics (NYSE:XPO) opened at 34.82 on Wednesday. The firm’s market capitalization is $3.84 billion. XPO Logistics has a 1-year low of $18.04 and a 1-year high of $37.94. The stock’s 50 day moving average is $35.59 and its 200-day moving average is $31.08.
XPO Logistics (NYSE:XPO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $3.68 billion for the quarter. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 202.9% compared to the same quarter last year. Equities research analysts forecast that XPO Logistics will post $0.97 EPS for the current year.
In related news, major shareholder Private Ltd Gic sold 145,000 shares of XPO Logistics stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $37.42, for a total transaction of $5,425,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XPO. Orbis Allan Gray Ltd purchased a new position in XPO Logistics during the first quarter worth about $551,439,000. Dimensional Fund Advisors LP raised its position in 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 last quarter. BlackRock Fund Advisors raised its position in 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 last quarter. Oakmont Corp raised its position in XPO Logistics by 51.2% in the second quarter. Oakmont Corp now owns 1,691,780 shares of the company’s stock worth $44,426,000 after buying an additional 572,980 shares during the last quarter. Finally, Cypress Funds LLC purchased a new position in XPO Logistics during the second quarter worth about $10,504,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.
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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