Stock Repurchase Plan Approved by XPO (NYSE:XPO) Board of Directors

XPO (NYSE:XPO) announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 27th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

XPO Stock Performance

NYSE XPO traded up $1.95 during trading on Thursday, reaching $112.82. The company’s stock had a trading volume of 2,338,738 shares, compared to its average volume of 1,510,745. XPO has a twelve month low of $97.03 and a twelve month high of $161.00. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 1.79 and a beta of 2.13. The business’s fifty day moving average price is $126.59 and its 200-day moving average price is $129.53. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on XPO. Bank of America dropped their price objective on XPO from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Raymond James dropped their target price on XPO from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Oppenheimer increased their price target on shares of XPO from $148.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. UBS Group raised their price objective on shares of XPO from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Benchmark upped their target price on shares of XPO from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Nineteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $156.37.

Insider Activity at XPO

In other XPO news, COO David J. Bates bought 1,880 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, with a total value of $199,580.80. Following the purchase, the chief operating officer now owns 21,106 shares in the company, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

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.