Bank of America Issues Positive Forecast for XPO (NYSE:XPO) Stock Price

XPO (NYSE:XPO) had its target price hoisted by Bank of America from $139.00 to $150.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on the company. Stephens restated an “overweight” rating and set a $131.00 price target on shares of XPO in a report on Thursday, June 5th. Citigroup cut their price target on XPO from $148.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut their price target on XPO from $130.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Raymond James Financial cut their price target on XPO from $165.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI upped their price target on XPO from $115.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $138.21.

XPO Price Performance

XPO stock opened at $129.69 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $15.28 billion, a PE ratio of 39.90, a P/E/G ratio of 2.52 and a beta of 1.93. XPO has a 12-month low of $85.06 and a 12-month high of $161.00. The business’s fifty day moving average price is $119.82 and its 200 day moving average price is $120.64.

XPO (NYSE:XPO) last posted its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.98 billion. XPO had a return on equity of 28.27% and a net margin of 4.87%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, sell-side analysts anticipate that XPO will post 4.15 EPS for the current year.

XPO announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 27th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of XPO

Large investors have recently made changes to their positions in the company. SouthState Corp acquired a new stake in shares of XPO in the 1st quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB lifted its position in XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company’s stock worth $26,000 after acquiring an additional 113 shares during the period. Cullen Frost Bankers Inc. lifted its position in XPO by 69.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock worth $42,000 after acquiring an additional 130 shares during the period. Larson Financial Group LLC lifted its position in XPO by 25.6% during the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock worth $49,000 after acquiring an additional 76 shares during the period. Finally, Parallel Advisors LLC lifted its position in XPO by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company’s stock worth $52,000 after acquiring an additional 180 shares during the period. 97.73% of the stock is owned by institutional investors and hedge funds.

XPO Company Profile

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.