XPO Logistics Inc. (XPO) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage 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 research analysts also recently commented on XPO. Deutsche Bank AG reiterated a buy rating on shares of XPO Logistics in a report on Wednesday, June 22nd. JPMorgan Chase & Co. initiated coverage on XPO Logistics in a report on Monday, July 11th. They issued an overweight rating and a $40.00 price objective on the stock. Oppenheimer Holdings Inc. reiterated an outperform rating on shares of XPO Logistics in a report on Wednesday, August 3rd. Cowen and Company lifted 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 lifted 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. The stock presently has an average rating of Buy and a consensus target price of $42.20.
XPO Logistics (NYSE:XPO) opened at 36.35 on Wednesday. XPO Logistics has a one year low of $18.04 and a one year high of $37.94. The firm’s market cap is $4.00 billion. The firm has a 50-day moving average price of $35.65 and a 200-day moving average price of $31.06.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 earned $3.68 billion during the quarter. During the same period last year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was up 202.9% on a year-over-year basis. On average, equities analysts expect that XPO Logistics will post $0.97 EPS for the current fiscal year.
In other XPO Logistics news, major shareholder Private Ltd Gic sold 145,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $37.42, for a total value of $5,425,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA acquired a new stake in shares of XPO Logistics during the second quarter worth about $102,000. Fifth Third Bancorp raised its stake in shares of 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 shares of 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. Creative Planning raised its stake in shares of XPO Logistics by 157.0% in the third quarter. Creative Planning now owns 3,470 shares of the company’s stock worth $127,000 after buying an additional 2,120 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of 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. Institutional investors and hedge funds own 94.27% of the company’s stock.
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.
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.