XPO Logistics, Inc. (XPO) Cut to “Hold” at Zacks Investment Research
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.
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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.
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