Xerox (NYSE:XRX) Sets New 12-Month Low – Should You Sell?

Shares of Xerox Holdings Co. (NYSE:XRX) hit a new 52-week low during trading on Thursday . The stock traded as low as $6.88 and last traded at $6.93, with a volume of 6189098 shares trading hands. The stock had previously closed at $7.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on XRX shares. JPMorgan Chase & Co. lowered their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley lowered their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Xerox currently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Stock Performance

The firm’s 50 day moving average price is $8.61 and its 200-day moving average price is $9.34. The firm has a market cap of $861.91 million, a price-to-earnings ratio of -0.65 and a beta of 1.59. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 7.22%. Xerox’s payout ratio is -4.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in Xerox in the third quarter worth $29,000. Picton Mahoney Asset Management lifted its position in Xerox by 330.5% in the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,885 shares during the period. TD Waterhouse Canada Inc. bought a new position in Xerox in the fourth quarter worth $51,000. US Bancorp DE lifted its position in Xerox by 42.3% in 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 period. Finally, KBC Group NV lifted its position 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 worth $78,000 after purchasing an additional 4,224 shares during the period. 85.36% of the stock is owned by 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.