StockNews.com Upgrades Xerox (NYSE:XRX) to Buy

Xerox (NYSE:XRX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently commented on XRX. Loop Capital decreased their price target on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday. Citigroup assumed coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Up 1.7 %

Shares of NYSE XRX opened at $10.25 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Xerox has a 12 month low of $9.51 and a 12 month high of $19.78. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.53 and a beta of 1.58. The business has a 50-day moving average of $11.62 and a 200-day moving average of $14.64.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. Xerox’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Sell-side analysts expect that Xerox will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently bought and sold shares of XRX. GAMMA Investing LLC purchased a new stake in Xerox during the 4th quarter valued at $25,000. CWM LLC grew its stake in shares of Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Xerox by 38.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 630 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Xerox in the 1st quarter worth $45,000. Finally, TFO Wealth Partners LLC raised its stake in Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.