Xerox (NYSE:XRX) Price Target Cut to $11.00

Xerox (NYSE:XRX) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $13.00 to $11.00 in a report issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.67% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Loop Capital cut their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Citigroup began coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target for the company. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.25.

Xerox Trading Up 2.9 %

Shares of Xerox stock opened at $10.41 on Monday. Xerox has a 1 year low of $9.51 and a 1 year high of $19.78. The firm has a market cap of $1.29 billion, a PE ratio of -9.91 and a beta of 1.57. The stock has a fifty day moving average price of $10.45 and a 200-day moving average price of $12.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. Equities research analysts anticipate that Xerox will post 1.79 EPS for the current year.

Hedge Funds Weigh In On Xerox

Large investors have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Xerox during the first quarter valued at approximately $45,000. Plato Investment Management Ltd bought a new stake in Xerox in the first quarter worth $115,000. nVerses Capital LLC bought a new stake in Xerox in the second quarter worth $78,000. Finally, International Assets Investment Management LLC boosted its holdings in Xerox by 938.0% in the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after acquiring an additional 7,504 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.