XPO (NYSE:XPO) Shares Gap Up After Better-Than-Expected Earnings

XPO, Inc. (NYSE:XPO)’s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $108.92, but opened at $122.00. XPO shares last traded at $118.19, with a volume of 1,075,753 shares changing hands.

The transportation company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. XPO had a net margin of 2.44% and a return on equity of 29.85%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on XPO shares. Oppenheimer boosted their price objective on XPO from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Stifel Nicolaus raised their price objective on shares of XPO from $77.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Citigroup lifted their price objective on shares of XPO from $100.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Raymond James increased their target price on shares of XPO from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their price target on shares of XPO from $98.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.65.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its holdings in shares of XPO by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 19,896 shares of the transportation company’s stock worth $1,486,000 after purchasing an additional 495 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of XPO by 1.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,006 shares of the transportation company’s stock valued at $1,046,000 after purchasing an additional 160 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in XPO by 17.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 42,754 shares of the transportation company’s stock worth $3,192,000 after buying an additional 6,426 shares during the last quarter. Brown Advisory Inc. increased its position in XPO by 5.2% during the third quarter. Brown Advisory Inc. now owns 7,778 shares of the transportation company’s stock worth $581,000 after buying an additional 386 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in XPO by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,806 shares of the transportation company’s stock valued at $1,703,000 after buying an additional 3,906 shares during the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

XPO Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 69.91, a P/E/G ratio of 2.62 and a beta of 2.17. The company has a fifty day moving average price of $120.80 and a two-hundred day moving average price of $100.16.

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.