Xerox (NYSE:XRX) Rating Lowered to Hold at StockNews.com

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

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Morgan Stanley reduced their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Loop Capital decreased their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, Xerox has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Stock Up 1.5 %

Shares of XRX opened at $8.29 on Friday. The business’s fifty day moving average price is $10.27 and its two-hundred day moving average price is $11.79. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -0.75 and a beta of 1.59. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.13 and a current ratio of 1.26.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. On average, analysts predict that Xerox will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Xerox

Hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC increased its position in Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after acquiring an additional 225,617 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Xerox by 3.5% during the first quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after buying an additional 33,590 shares in the last quarter. SG Capital Management LLC acquired a new position in Xerox in the 1st quarter worth about $8,466,000. Empowered Funds LLC raised its holdings in Xerox by 8.3% in the 1st quarter. Empowered Funds LLC now owns 446,810 shares of the information technology services provider’s stock valued at $7,998,000 after buying an additional 34,219 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Xerox by 51.5% during the second quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock valued at $4,433,000 after acquiring an additional 129,616 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.