Benchmark Forecasts Strong Price Appreciation for XPO (NYSE:XPO) Stock

XPO (NYSE:XPO) had its target price lifted by investment analysts at Benchmark from $130.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Benchmark’s target price suggests a potential upside of 9.00% from the stock’s current price.

A number of other research firms also recently issued reports on XPO. Truist Financial boosted their price target on XPO from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, June 30th. JPMorgan Chase & Co. boosted their price target on XPO from $121.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Bank of America boosted their price target on XPO from $139.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Raymond James Financial 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $135.00) on shares of XPO in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, XPO currently has an average rating of “Moderate Buy” and an average target price of $141.00.

XPO Stock Performance

XPO stock opened at $128.44 on Tuesday. The firm has a market capitalization of $15.13 billion, a P/E ratio of 39.52, a PEG ratio of 2.46 and a beta of 1.93. The stock has a fifty day moving average price of $123.36 and a 200 day moving average price of $120.72. XPO has a 52 week low of $85.06 and a 52 week high of $161.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03.

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

XPO announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 27th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the transportation company to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of XPO

Several institutional investors and hedge funds have recently bought and sold shares of XPO. Dakota Wealth Management raised its position in shares of XPO by 8.4% during the 2nd quarter. Dakota Wealth Management now owns 11,961 shares of the transportation company’s stock worth $1,511,000 after purchasing an additional 930 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of XPO by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,298 shares of the transportation company’s stock worth $4,584,000 after purchasing an additional 374 shares during the period. Oliver Luxxe Assets LLC raised its position in shares of XPO by 1.8% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 21,387 shares of the transportation company’s stock worth $2,701,000 after purchasing an additional 369 shares during the period. GAMMA Investing LLC raised its position in shares of XPO by 4.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,860 shares of the transportation company’s stock worth $235,000 after purchasing an additional 78 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of XPO by 63.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 426 shares of the transportation company’s stock worth $54,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 97.73% of the company’s stock.

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.