Xerox (NYSE:XRX) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other research analysts have also issued reports on XRX. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley dropped their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

Xerox stock opened at $8.40 on Wednesday. The business has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $9.63. Xerox has a 12 month low of $8.02 and a 12 month high of $19.48. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The stock has a market capitalization of $1.04 billion, a PE ratio of 8.90 and a beta of 1.59.

Institutional Trading of Xerox

A number of institutional investors have recently added to or reduced their stakes in XRX. Gladius Capital Management LP acquired a new stake in shares of Xerox during the 3rd quarter valued at approximately $29,000. US Bancorp DE raised its holdings in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 1,888 shares during the last quarter. KBC Group NV grew its holdings in Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Xerox in the fourth quarter valued at $97,000. Finally, Prism Advisors Inc. acquired a new position in shares of Xerox during the 4th quarter worth $103,000. 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.