Xerox (NYSE:XRX) Downgraded to “Hold” at StockNews.com

Xerox (NYSE:XRX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, JPMorgan Chase & Co. increased their target price on Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.

Xerox Trading Down 10.1 %

Xerox stock opened at $14.76 on Wednesday. The stock has a market cap of $1.83 billion, a P/E ratio of -73.80 and a beta of 1.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14. Xerox has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The firm’s fifty day moving average price is $17.50 and its 200-day moving average price is $16.31.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Equities research analysts forecast that Xerox will post 2.31 earnings per share for the current fiscal year.

Institutional Trading of Xerox

Several institutional investors have recently added to or reduced their stakes in XRX. SG Americas Securities LLC boosted its position in Xerox by 65.0% during the third quarter. SG Americas Securities LLC now owns 76,258 shares of the information technology services provider’s stock valued at $1,196,000 after buying an additional 30,045 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Xerox by 402.9% during the third quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock worth $1,105,000 after purchasing an additional 56,427 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Xerox during the third quarter worth about $818,000. Hexagon Capital Partners LLC boosted its holdings in shares of Xerox by 87.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 758 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Xerox during the third quarter worth about $654,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Company Profile

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.