UBS Group Increases XPO (NYSE:XPO) Price Target to $123.00

XPO (NYSE:XPO) had its price objective upped by equities researchers at UBS Group from $108.00 to $123.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. UBS Group’s price objective points to a potential upside of 12.02% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of XPO from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Raymond James decreased their target price on XPO from $165.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Vertical Research raised XPO from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Thursday, March 6th. Bank of America decreased their price objective on XPO from $150.00 to $131.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Truist Financial dropped their target price on shares of XPO from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. 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 an average price target of $135.79.

XPO Stock Performance

Shares of XPO stock opened at $109.80 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. The stock’s fifty day moving average is $104.98 and its two-hundred day moving average is $127.41. XPO has a 52 week low of $85.06 and a 52 week high of $161.00. The company has a market capitalization of $12.93 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05.

XPO (NYSE:XPO) last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. XPO had a net margin of 4.81% and a return on equity of 30.36%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts expect that XPO will post 4.15 earnings per share for the current year.

XPO declared that its Board of Directors has authorized a stock buyback program on Thursday, March 27th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at XPO

In related news, COO David J. Bates purchased 1,880 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $106.16 per share, with a total value of $199,580.80. Following the completion of the acquisition, the chief operating officer now owns 21,106 shares in the company, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On XPO

Hedge funds have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in XPO by 18.5% during the 4th quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock worth $1,789,171,000 after acquiring an additional 2,125,686 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of XPO during the fourth quarter worth about $231,667,000. Capital World Investors boosted its position in XPO by 26.1% in the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock valued at $1,016,923,000 after buying an additional 1,605,001 shares during the last quarter. Norges Bank purchased a new stake in XPO in the fourth quarter valued at approximately $188,808,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in XPO in the 4th quarter worth approximately $163,938,000. 97.73% of the stock is owned by institutional investors and hedge funds.

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.