Zacks Investment Research lowered shares of XPO Logistics, Inc. (NYSE:XPO) from a buy rating to a hold rating in a research report report published on Thursday morning.

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 firms have also commented on XPO. Morgan Stanley raised their price target on XPO Logistics from $56.00 to $60.00 and gave the stock an overweight rating in a research report on Monday, May 8th. Deutsche Bank AG reaffirmed a buy rating and set a $75.00 price target on shares of XPO Logistics in a research report on Monday, June 5th. Stifel Nicolaus raised their price target on XPO Logistics from $60.00 to $65.00 and gave the stock a buy rating in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. raised their price target on XPO Logistics from $63.00 to $72.00 and gave the stock an outperform rating in a research report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed an outperform rating and set a $60.00 price target on shares of XPO Logistics in a research report on Monday, May 22nd. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. XPO Logistics presently has an average rating of Buy and a consensus target price of $65.75.

XPO Logistics (NYSE:XPO) opened at 60.46 on Thursday. The firm’s 50-day moving average price is $57.65 and its 200 day moving average price is $50.03. XPO Logistics has a 1-year low of $24.32 and a 1-year high of $65.44. The stock has a market cap of $6.75 billion, a PE ratio of 71.30 and a beta of 2.31.

XPO Logistics (NYSE:XPO) last released its quarterly earnings results on Wednesday, May 3rd. The transportation company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.14. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.55 billion. XPO Logistics had a return on equity of 5.63% and a net margin of 0.76%. Equities research analysts expect that XPO Logistics will post $1.98 EPS for the current year.

TRADEMARK VIOLATION WARNING: “XPO Logistics, Inc. (XPO) Cut to “Hold” at Zacks Investment Research” was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/07/18/xpo-logistics-inc-xpo-cut-to-hold-at-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of XPO. FMR LLC bought a new position in XPO Logistics during the fourth quarter worth $58,317,000. Russell Investments Group Ltd. bought a new position in XPO Logistics during the fourth quarter worth $2,383,000. Hennessy Advisors Inc. bought a new position in XPO Logistics during the first quarter worth $3,956,000. AQR Capital Management LLC increased its position in XPO Logistics by 509.6% in the fourth quarter. AQR Capital Management LLC now owns 39,178 shares of the transportation company’s stock worth $1,691,000 after buying an additional 32,751 shares in the last quarter. Finally, American Century Companies Inc. increased its position in XPO Logistics by 1.2% in the first quarter. American Century Companies Inc. now owns 192,457 shares of the transportation company’s stock worth $9,217,000 after buying an additional 2,317 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

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.

Get a free copy of the Zacks research report on XPO Logistics (XPO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for XPO Logistics (NYSE:XPO)

Receive News & Ratings for XPO Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XPO Logistics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.