CIBC World Markets Inc. Purchases Shares of 13,805 XPO Logistics, Inc. (XPO)
CIBC World Markets Inc. purchased a new position in XPO Logistics, Inc. (NYSE:XPO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,805 shares of the transportation company’s stock, valued at approximately $892,000.
A number of other hedge funds also recently added to or reduced their stakes in XPO. BlackRock Inc. grew its stake in XPO Logistics by 24,470.3% in the 1st quarter. BlackRock Inc. now owns 6,016,292 shares of the transportation company’s stock worth $288,120,000 after buying an additional 5,991,806 shares in the last quarter. American Century Companies Inc. grew its stake in XPO Logistics by 719.7% in the 2nd quarter. American Century Companies Inc. now owns 1,577,555 shares of the transportation company’s stock worth $101,957,000 after buying an additional 1,385,098 shares in the last quarter. Vanguard Group Inc. grew its stake in XPO Logistics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 8,432,238 shares of the transportation company’s stock worth $403,820,000 after buying an additional 606,812 shares in the last quarter. Victory Capital Management Inc. grew its stake in XPO Logistics by 43.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,601,569 shares of the transportation company’s stock worth $103,509,000 after buying an additional 485,053 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in XPO Logistics by 331.6% in the 2nd quarter. Federated Investors Inc. PA now owns 553,402 shares of the transportation company’s stock worth $35,766,000 after buying an additional 425,189 shares in the last quarter. 89.55% of the stock is owned by institutional investors and hedge funds.
Shares of XPO Logistics, Inc. (NYSE:XPO) opened at 60.83 on Friday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 69.68 and a beta of 2.28. XPO Logistics, Inc. has a 12-month low of $31.68 and a 12-month high of $65.44. The company’s 50-day moving average is $58.79 and its 200-day moving average is $55.47.
XPO Logistics (NYSE:XPO) last posted its earnings results on Wednesday, August 2nd. The transportation company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. XPO Logistics had a net margin of 0.80% and a return on equity of 6.49%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm posted $0.42 earnings per share. XPO Logistics’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that XPO Logistics, Inc. will post $1.91 EPS for the current year.
A number of research firms have commented on XPO. Cowen and Company reissued a “buy” rating and issued a $69.00 price target on shares of XPO Logistics in a research note on Thursday, September 7th. Stifel Nicolaus set a $77.00 price target on shares of XPO Logistics and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. William Blair reissued an “outperform” rating on shares of XPO Logistics in a research note on Monday, August 7th. BidaskClub cut shares of XPO Logistics from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $75.00 price target (up previously from $60.00) on shares of XPO Logistics in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $67.33.
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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