XPO Logistics Inc. (XPO) Downgraded by Zacks Investment Research to “Hold”
XPO Logistics Inc. (NYSE:XPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
XPO has been the topic of several other research reports. JPMorgan Chase & Co. assumed coverage on shares of XPO Logistics in a report on Monday, July 11th. They issued an “overweight” rating and a $40.00 target price on the stock. Oppenheimer Holdings Inc. restated an “outperform” rating on shares of XPO Logistics in a report on Wednesday, August 3rd. Deutsche Bank AG reiterated a “buy” rating on shares of XPO Logistics in a report on Wednesday, June 22nd. Stifel Nicolaus upped their price target on shares of XPO Logistics from $35.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Cowen and Company upped their price target on shares of XPO Logistics from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. XPO Logistics currently has a consensus rating of “Buy” and an average price target of $42.20.
Shares of XPO Logistics (NYSE:XPO) traded up 2.08% on Thursday, hitting $37.37. The stock had a trading volume of 1,164,919 shares. XPO Logistics has a 12 month low of $18.04 and a 12 month high of $37.94. The company has a 50 day moving average price of $35.65 and a 200-day moving average price of $30.94. The stock’s market cap is $4.12 billion.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.15. XPO Logistics had a negative net margin of 1.01% and a positive return on equity of 0.14%. The firm earned $3.68 billion during the quarter. During the same period in the previous year, the firm earned ($0.16) EPS. The company’s revenue was up 202.9% on a year-over-year basis. On average, equities research analysts anticipate that XPO Logistics will post $0.97 earnings per share for the current year.
In related news, major shareholder Sector Pension Investme Public sold 4,000,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $26.20, for a total transaction of $104,800,000.00. Following the completion of the sale, the insider now owns 9,637,746 shares of the company’s stock, valued at $252,508,945.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Ltd Gic sold 310,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $36.75, for a total transaction of $11,392,500.00. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new stake in XPO Logistics during the second quarter worth $102,000. Fifth Third Bancorp raised its stake in XPO Logistics by 110.3% in the second quarter. Fifth Third Bancorp now owns 3,996 shares of the company’s stock worth $105,000 after buying an additional 2,096 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in XPO Logistics by 7.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,300 shares of the company’s stock worth $109,000 after buying an additional 300 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in XPO Logistics by 12.5% in the first quarter. Loomis Sayles & Co. L P now owns 4,447 shares of the company’s stock worth $137,000 after buying an additional 493 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in XPO Logistics by 5.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,613 shares of the company’s stock worth $175,000 after buying an additional 363 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.
XPO Logistics Company Profile
XPO Logistics (NYSE:XPO) is a global logistics company operating in 34 countries, with over 88,000 employees and 1,440 locations. The company provides supply chain solutions in two reporting segments: transportation and logistics. The logistics segment offers e-commerce fulfillment, reverse logistics, factory and aftermarket support, packaging and labeling, distribution and managed transportation.
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