Bank of America Issues Pessimistic Forecast for XPO (NYSE:XPO) Stock Price

XPO (NYSE:XPO) had its price target decreased by research analysts at Bank of America from $150.00 to $131.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target suggests a potential upside of 22.02% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of XPO from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Benchmark increased their price target on shares of XPO from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James reduced their price target on shares of XPO from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on XPO from $170.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Stephens restated an “overweight” rating and issued a $171.00 target price on shares of XPO in a research report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $155.37.

XPO Trading Down 5.2 %

Shares of NYSE:XPO opened at $107.36 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08. XPO has a 12-month low of $97.03 and a 12-month high of $161.00. The business has a 50 day moving average of $125.98 and a two-hundred day moving average of $129.77. The company has a market capitalization of $12.59 billion, a PE ratio of 33.24, a PEG ratio of 1.79 and a beta of 2.13.

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

XPO declared that its board has approved a stock buyback program on Thursday, March 27th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO David J. Bates purchased 1,880 shares of XPO stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $106.16 per share, with a total value of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. The trade was a 9.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On XPO

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of XPO in the 4th quarter valued at about $29,000. Halbert Hargrove Global Advisors LLC purchased a new stake in XPO in the fourth quarter valued at approximately $42,000. Cullen Frost Bankers Inc. boosted its holdings in shares of XPO by 69.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 130 shares during the period. Larson Financial Group LLC boosted its holdings in shares of XPO by 25.6% in the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 76 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of XPO during the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Company Profile

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.