Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a research note published on Saturday morning. Zacks Investment Research currently has $41.00 price objective on the stock.
According to Zacks, “XPO Logistics, Inc. is a third-party logistics provider offering expedient, single-source solutions for time-critical and service-sensitive shipments through its non-asset based transportation network. XPO serves customers in the U.S, Canada and Mexico with domestic and international freight destinations. XPO’s suite of logistics services is offered through three brands: expedited surface transportation through Express-1, Inc., domestic and international freight forwarding services through Concert Group Logistics, Inc., and truckload brokerage services through Bounce Logistics, Inc. XPO Logistics, Inc., formerly known as Express-1 Expedited Solutions, Inc., is based in Buchanan, Michigan. “
Other equities research analysts have also issued reports about the company. Deutsche Bank AG raised their price objective on XPO Logistics from $37.00 to $42.00 and gave the company a buy rating in a research note on Friday, August 5th. Stifel Nicolaus raised their price target on XPO Logistics from $35.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 5th. Cowen and Company raised their price target on XPO Logistics from $26.00 to $38.00 and gave the stock an outperform rating in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reissued an outperform rating on shares of XPO Logistics in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. raised their price target on XPO Logistics from $40.00 to $50.00 and gave the stock an overweight rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $42.20.
XPO Logistics (NYSE:XPO) opened at 36.67 on Friday. The firm’s 50-day moving average price is $35.58 and its 200 day moving average price is $30.71. XPO Logistics has a 52 week low of $18.04 and a 52 week high of $37.94. The company’s market capitalization is $4.04 billion.
XPO Logistics (NYSE:XPO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.15. The business earned $3.68 billion during the quarter. XPO Logistics had a positive return on equity of 0.14% and a negative net margin of 1.01%. XPO Logistics’s revenue for the quarter was up 202.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. Equities research analysts expect that XPO Logistics will post $0.98 earnings per share for the current fiscal year.
In other news, major shareholder Sector Pension Investme Public sold 4,000,000 shares of XPO Logistics stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $26.20, for a total value of $104,800,000.00. Following the transaction, the insider now directly owns 9,637,746 shares in the company, valued at approximately $252,508,945.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Ltd Gic sold 145,000 shares of XPO Logistics stock in a transaction on Monday, August 8th. The shares were sold at an average price of $37.42, for a total value of $5,425,900.00. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd bought a new position in shares of XPO Logistics during the first quarter worth about $551,439,000. Vanguard Group Inc. increased its position in shares of XPO Logistics by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,886,564 shares of the company’s stock worth $180,841,000 after buying an additional 154,909 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of XPO Logistics by 34.8% in the second quarter. BlackRock Fund Advisors now owns 2,355,474 shares of the company’s stock worth $61,855,000 after buying an additional 608,252 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of XPO Logistics by 14.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,325,241 shares of the company’s stock worth $61,061,000 after buying an additional 300,877 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of XPO Logistics by 56.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,033,893 shares of the company’s stock worth $53,405,000 after buying an additional 730,581 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.
About XPO Logistics
XPO Logistics, Inc is a transportation and logistics company. The Company provides supply chain solutions. The Company operates in two segments: Transportation and Logistics. In the Transportation segment, it provides multiple services to facilitate the movement of raw materials, parts and finished goods.
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