Xerox (NASDAQ:XRX) Upgraded at Zacks Research

Zacks Research upgraded shares of Xerox (NASDAQ:XRX) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on XRX. Weiss Ratings began coverage on shares of Xerox in a report on Wednesday, January 28th. They issued a “sell (d-)” rating on the stock. Citigroup reaffirmed a “neutral” rating and issued a $2.50 price objective (down previously from $3.50) on shares of Xerox in a report on Friday, January 30th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Xerox currently has an average rating of “Reduce” and an average target price of $2.50.

Xerox Price Performance

Shares of XRX opened at $2.29 on Monday. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.80 and a current ratio of 1.12. Xerox has a fifty-two week low of $2.03 and a fifty-two week high of $8.57. The firm has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $3.31. The company has a market capitalization of $293.21 million, a price-to-earnings ratio of -0.28 and a beta of 1.72.

Shares of Xerox are going to split before the market opens on Monday, February 9th. The 3-2 split was recently announced. The newly minted shares will be payable to shareholders after the market closes on Sunday, February 8th.

Xerox (NASDAQ:XRX) last released its quarterly earnings results on Thursday, January 29th. The information technology services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.25). The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Xerox had a negative return on equity of 8.26% and a negative net margin of 14.65%.Xerox’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. On average, equities research analysts anticipate that Xerox will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Xerox

A number of institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management acquired a new position in Xerox during the second quarter worth $31,000. Plato Investment Management Ltd purchased a new position in shares of Xerox in the second quarter valued at $44,000. Cidel Asset Management Inc. acquired a new position in shares of Xerox during the 2nd quarter worth $57,000. Captrust Financial Advisors purchased a new stake in shares of Xerox in the 2nd quarter worth about $58,000. Finally, Socha Financial Group LLC acquired a new stake in Xerox in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Company Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.