Xerox (NASDAQ:XRX) Upgraded at Zacks Research

Xerox (NASDAQ:XRX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also commented on the company. Citigroup reaffirmed a “neutral” rating and issued a $2.50 price objective (down from $3.50) on shares of Xerox in a report on Friday. Weiss Ratings started coverage on shares of Xerox in a research note on Wednesday, January 28th. They issued a “sell (d-)” rating on the stock. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $2.50.

Xerox Stock Performance

Shares of XRX stock opened at $2.17 on Monday. Xerox has a 52 week low of $2.03 and a 52 week high of $8.57. The company has a market capitalization of $277.85 million, a price-to-earnings ratio of -0.26 and a beta of 1.72. The company has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $3.32. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.80 and a current ratio of 1.12.

Xerox’s stock is set to split before the market opens on Monday, February 9th. The 3-2 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Sunday, February 8th.

Xerox (NASDAQ:XRX) last issued its quarterly earnings data on Thursday, January 29th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.25). Xerox had a negative return on equity of 8.26% and a negative net margin of 14.65%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. On average, sell-side analysts predict that Xerox will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Xerox

Large investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Xerox in the second quarter valued at approximately $31,000. Plato Investment Management Ltd bought a new position in shares of Xerox in the 2nd quarter valued at $44,000. Cidel Asset Management Inc. acquired a new stake in shares of Xerox during the 2nd quarter valued at $57,000. Captrust Financial Advisors bought a new stake in Xerox during the 2nd quarter worth $58,000. Finally, Socha Financial Group LLC acquired a new position in Xerox in the 3rd quarter worth about $43,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.