XPO (NYSE:XPO) Shares Break Above 50-Day Moving Average – Here’s What Happened

Shares of XPO, Inc. (NYSE:XPO) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $182.93 and traded as high as $188.64. XPO shares last traded at $187.84, with a volume of 1,103,658 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial reduced their price objective on XPO from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Stifel Nicolaus set a $235.00 price target on shares of XPO in a report on Friday, October 30th. JPMorgan Chase & Co. increased their price target on shares of XPO from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. UBS Group decreased their price objective on shares of XPO from $257.00 to $232.00 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $275.00 price objective on shares of XPO in a research report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.45.

XPO Trading Up 6.2%

The firm has a fifty day simple moving average of $182.93 and a two-hundred day simple moving average of $197.24. The firm has a market capitalization of $21.89 billion, a P/E ratio of 44.30, a price-to-earnings-growth ratio of 1.72 and a beta of 1.87. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.99 and a quick ratio of 0.99.

XPO (NYSE:XPO) last released its earnings results on Thursday, October 29th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. XPO had a return on equity of 32.80% and a net margin of 5.69%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. On average, equities research analysts anticipate that XPO, Inc. will post 5.77 earnings per share for the current fiscal year.

Insider Activity

In other XPO news, CFO Kyle Wismans sold 750 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $191.62, for a total transaction of $143,715.00. Following the sale, the chief financial officer directly owned 47,216 shares of the company’s stock, valued at $9,047,529.92. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO David J. Bates sold 2,615 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $194.08, for a total transaction of $507,519.20. Following the sale, the chief operating officer directly owned 59,505 shares in the company, valued at approximately $11,548,730.40. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 10,095 shares of company stock valued at $1,851,171. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in XPO during the 2nd quarter valued at $2,985,276,000. MFN Partners Management LP purchased a new stake in shares of XPO during the second quarter worth $2,026,148,865. Bessemer Group Inc. boosted its holdings in shares of XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock worth $470,986,000 after acquiring an additional 1,299,480 shares during the period. Findlay Park Partners LLP purchased a new position in shares of XPO in the second quarter valued at $236,104,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of XPO in the second quarter valued at $151,798,000. 97.73% of the stock is owned by institutional investors.

XPO Company Profile

XPO Inc is a transportation company focused on less-than-truckload (LTL) shipping in North America. Its network combines freight from multiple customers into shared truckloads, serving businesses that need to ship goods too large for parcel delivery but not large enough to fill an entire trailer.

The company provides pickup and delivery, linehaul transportation between service centers, and related freight-handling services. Its operations primarily serve customers in the United States, with cross-border coverage in Canada and Mexico.

XPO traces its modern corporate history to 2011, when it began acquiring transportation and logistics businesses under the name XPO Logistics.