XPO (NYSE:XPO) Shares Gap Down on Analyst Downgrade

Shares of XPO, Inc. (NYSE:XPO) gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $125.00 to $119.00. The stock had previously closed at $113.66, but opened at $105.80. Wells Fargo & Company currently has an overweight rating on the stock. XPO shares last traded at $104.24, with a volume of 433,482 shares trading hands.

A number of other equities analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of XPO in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on XPO from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Stephens reiterated an “overweight” rating and set a $150.00 price objective on shares of XPO in a research report on Friday, June 7th. Evercore ISI reduced their price target on shares of XPO from $144.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Bank of America dropped their price objective on shares of XPO from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.82.

Hedge Funds Weigh In On XPO

Several hedge funds have recently added to or reduced their stakes in XPO. Norges Bank bought a new stake in shares of XPO during the fourth quarter valued at approximately $79,592,000. CenterBook Partners LP purchased a new stake in shares of XPO in the 4th quarter worth $779,000. Dimensional Fund Advisors LP increased its stake in shares of XPO by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,468,051 shares of the transportation company’s stock valued at $128,603,000 after buying an additional 67,797 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of XPO by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 43,953 shares of the transportation company’s stock valued at $5,364,000 after acquiring an additional 1,712 shares in the last quarter. Finally, Empirical Capital Management LLC purchased a new stake in XPO in the fourth quarter worth about $4,380,000. 97.73% of the stock is currently owned by institutional investors.

XPO Trading Down 10.8 %

The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $11.80 billion, a P/E ratio of 50.24, a PEG ratio of 1.78 and a beta of 2.11. The company’s fifty day simple moving average is $112.70 and its 200-day simple moving average is $114.45.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. XPO had a net margin of 4.48% and a return on equity of 32.49%. XPO’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Research analysts predict that XPO, Inc. will post 3.61 earnings per share for the current year.

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.