Share Buyback Program Authorized by XPO (NYSE:XPO)

XPO (NYSE:XPO) declared that its board has approved a stock repurchase program on Thursday, March 27th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization permits the transportation company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on XPO shares. Oppenheimer boosted their target price on shares of XPO from $148.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. UBS Group boosted their price objective on XPO from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group increased their price objective on XPO from $150.00 to $167.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group lifted their target price on XPO from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Raymond James decreased their price target on XPO from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Nineteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, XPO has a consensus rating of “Buy” and a consensus price target of $156.37.

XPO Stock Up 1.8 %

XPO stock opened at $112.82 on Friday. The firm has a market cap of $13.23 billion, a PE ratio of 34.93, a P/E/G ratio of 1.79 and a beta of 2.13. XPO has a 12 month low of $97.03 and a 12 month high of $161.00. The firm has a 50 day simple moving average of $126.59 and a 200 day simple moving average of $129.53. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06.

XPO (NYSE:XPO) last issued its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. Equities research analysts forecast that XPO will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at XPO

In other XPO news, COO David J. Bates acquired 1,880 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the transaction, the chief operating officer now owns 21,106 shares of the company’s stock, valued at $2,240,612.96. The trade was a 9.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

About XPO

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.