XP (NASDAQ:XP) Stock Rating Lowered by Citigroup

XP (NASDAQ:XP) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. They presently have a $15.00 price objective on the stock. Citigroup‘s price target indicates a potential downside of 4.46% from the stock’s previous close.

A number of other research firms have also recently issued reports on XP. JPMorgan Chase & Co. upped their price target on shares of XP from $26.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. UBS Group raised their price target on XP from $25.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, Itau BBA Securities raised XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.80.

XP Price Performance

NASDAQ XP opened at $15.70 on Tuesday. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $22.46 and a 200 day simple moving average of $19.24. The company has a market cap of $8.44 billion, a P/E ratio of 8.22, a P/E/G ratio of 0.70 and a beta of 1.01. XP has a 1 year low of $13.78 and a 1 year high of $32.73.

XP (NASDAQ:XP) last posted its earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. XP’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. On average, sell-side analysts predict that XP will post 2.08 EPS for the current year.

Insider Buying and Selling at XP

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $19.58, for a total value of $2,413,372.06. Following the sale, the director owned 1,500,000 shares in the company, valued at approximately $29,370,000. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On XP

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Reyes Financial Architecture Inc. acquired a new position in XP during the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its position in XP by 46.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares during the last quarter. Parallel Advisors LLC grew its position in XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after purchasing an additional 1,775 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in XP in the 2nd quarter worth $91,000. Finally, Signaturefd LLC increased its holdings in shares of XP by 12.2% during the 3rd quarter. Signaturefd LLC now owns 6,117 shares of the company’s stock worth $128,000 after purchasing an additional 666 shares during the period. Institutional investors own 59.15% of the company’s stock.

About XP

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.