Bank of America Cuts XPO (NYSE:XPO) Price Target to $131.00

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

A number of other analysts have also commented on the company. Barclays dropped their price target on XPO from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. raised their price objective on XPO from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Susquehanna raised shares of XPO from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $155.00 to $180.00 in a research note on Friday, February 7th. Wells Fargo & Company dropped their price target on XPO from $170.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of XPO in a research note on Friday, March 7th. They issued a “buy” rating and a $156.00 price target on the stock. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat, XPO presently has a consensus rating of “Buy” and an average price target of $155.37.

XPO Price Performance

Shares of XPO stock opened at $112.82 on Friday. The company’s fifty day simple moving average is $126.59 and its two-hundred day simple moving average is $129.53. XPO has a 12-month low of $97.03 and a 12-month high of $161.00. The firm has a market cap of $13.23 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO) last posted its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that XPO will post 4.15 EPS for the current year.

XPO declared that its board has authorized a share repurchase plan on Thursday, March 27th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other XPO news, COO David J. Bates acquired 1,880 shares of the company’s stock in a transaction on 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 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 position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP lifted its stake in shares of XPO by 44.5% in the 3rd quarter. Quantbot Technologies LP now owns 5,725 shares of the transportation company’s stock valued at $615,000 after purchasing an additional 1,764 shares during the last quarter. Brooklyn Investment Group purchased a new stake in XPO during the 3rd quarter valued at $57,000. BNP Paribas Financial Markets lifted its position in XPO by 25.9% in the third quarter. BNP Paribas Financial Markets now owns 27,648 shares of the transportation company’s stock worth $2,972,000 after buying an additional 5,680 shares during the last quarter. Townsquare Capital LLC purchased a new position in XPO during the third quarter worth $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in XPO by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,534 shares of the transportation company’s stock valued at $2,745,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.

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.