Xerox (NYSE:XRX) Downgraded to Hold Rating by StockNews.com

Xerox (NYSE:XRX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other equities analysts have also recently issued reports on XRX. Morgan Stanley lowered their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Loop Capital cut their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $9.50.

Xerox Stock Up 0.5 %

Shares of Xerox stock opened at $8.43 on Friday. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company has a 50-day moving average of $9.82 and a 200 day moving average of $11.32. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -0.76 and a beta of 1.59.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Xerox will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Xerox by 2.3% in the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after buying an additional 62,947 shares in the last quarter. Barclays PLC lifted its stake in Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after purchasing an additional 46,708 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Xerox by 39.2% during the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock valued at $398,000 after purchasing an additional 10,794 shares in the last quarter. Finally, Coastwise Capital Group LLC lifted its position in shares of Xerox by 13.8% in the third quarter. Coastwise Capital Group LLC now owns 24,075 shares of the information technology services provider’s stock worth $250,000 after buying an additional 2,924 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.