XPO Logistics Inc. (XPO) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a report published on Saturday. 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. “
Several other equities research analysts also recently weighed in on XPO. Deutsche Bank AG reiterated a buy rating on shares of XPO Logistics in a report on Wednesday, June 22nd. JPMorgan Chase & Co. assumed coverage on XPO Logistics in a report on Monday, July 11th. They issued an overweight rating and a $40.00 price target on the stock. Oppenheimer Holdings Inc. restated an outperform rating on shares of XPO Logistics in a report on Wednesday, August 3rd. Cowen and Company raised their price objective on XPO Logistics from $26.00 to $38.00 and gave the stock an outperform rating in a report on Friday, August 5th. Finally, Stifel Nicolaus raised their price objective on XPO Logistics from $35.00 to $50.00 and gave the stock a buy rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $42.20.
Shares of XPO Logistics (NYSE:XPO) opened at 36.67 on Friday. The firm’s market capitalization is $4.04 billion. The company has a 50 day moving average of $35.58 and a 200-day moving average of $30.71. XPO Logistics has a 12 month low of $18.04 and a 12 month high of $37.94.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.15. XPO Logistics had a positive return on equity of 0.14% and a negative net margin of 1.01%. The firm had revenue of $3.68 billion for the quarter. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 202.9% compared to the same quarter last year. Analysts predict that XPO Logistics will post $0.98 EPS for the current year.
In related news, major shareholder Sector Pension Investme Public sold 4,000,000 shares of the firm’s 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 completion of the transaction, the insider now 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 accessible through this hyperlink. Also, major shareholder Private Ltd Gic sold 550,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $36.82, for a total value of $20,251,000.00. The disclosure for this sale can be found here. 17.20% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in XPO. Orbis Allan Gray Ltd acquired a new position in shares of XPO Logistics during the first quarter valued at $551,439,000. Dimensional Fund Advisors LP raised 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 valued at $53,405,000 after buying an additional 730,581 shares in the last quarter. BlackRock Fund Advisors raised 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 valued at $61,855,000 after buying an additional 608,252 shares in the last quarter. Oakmont Corp raised its position in shares of XPO Logistics by 51.2% in the second quarter. Oakmont Corp now owns 1,691,780 shares of the company’s stock valued at $44,426,000 after buying an additional 572,980 shares in the last quarter. Finally, Cypress Funds LLC acquired a new position in shares of XPO Logistics during the second quarter valued at $10,504,000. Institutional investors and hedge funds own 94.27% of the company’s stock.
XPO Logistics Company Profile
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.
Receive News & Stock Ratings for XPO Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XPO Logistics Inc. and related stocks with our FREE daily email newsletter.