Bank of America Has Lowered Expectations for XPO (NYSE:XPO) Stock Price

XPO (NYSE:XPO) had its target price decreased by equities research analysts at Bank of America from $150.00 to $131.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 16.12% from the company’s previous close.

Other analysts have also issued research reports about the stock. Oppenheimer upped their target price on shares of XPO from $148.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on shares of XPO from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Raymond James reduced their target price on XPO from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on XPO in a report on Friday, March 7th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Wells Fargo & Company decreased their target price on XPO from $170.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $155.37.

XPO Price Performance

Shares of XPO opened at $112.82 on Friday. The business’s fifty day moving average is $126.59 and its 200 day moving average is $129.53. XPO has a 12-month low of $97.03 and a 12-month high of $161.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $13.23 billion, a P/E ratio of 34.93, a P/E/G ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last posted its earnings results on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. Sell-side analysts anticipate that XPO will post 4.15 earnings per share for the current fiscal year.

XPO declared that its board has approved a stock buyback program on Thursday, March 27th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO David J. Bates purchased 1,880 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $106.16 per share, with a total value of $199,580.80. Following the acquisition, the chief operating officer now directly owns 21,106 shares of the company’s stock, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new position in shares of XPO during the fourth quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in XPO in the fourth quarter worth $42,000. Cullen Frost Bankers Inc. boosted its position in XPO by 69.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock valued at $42,000 after buying an additional 130 shares during the period. Larson Financial Group LLC grew its stake in shares of XPO by 25.6% during the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after buying an additional 76 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of XPO in the third quarter worth about $57,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.