Xerox (NYSE:XRX) Stock Rating Lowered by StockNews.com

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

Several other research firms have also commented on XRX. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Loop Capital lowered their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley dropped their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company 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 company’s stock. According to MarketBeat, Xerox presently has a consensus rating of “Reduce” and an average target price of $9.50.

Xerox Stock Performance

Xerox stock opened at $8.43 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78. The company’s 50-day moving average price is $9.82 and its 200-day moving average price is $11.32. The company has a market cap of $1.05 billion, a PE ratio of -0.76 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. On average, equities research analysts forecast that Xerox will post 1.38 EPS for the current fiscal year.

Institutional Trading of Xerox

A number of large investors have recently made changes to their positions in XRX. CWM LLC lifted its holdings in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Xerox during the third quarter valued at approximately $29,000. EntryPoint Capital LLC purchased a new stake in shares of Xerox in the first quarter valued at approximately $45,000. US Bancorp DE grew its stake 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 in the last quarter. Finally, nVerses Capital LLC purchased a new position in Xerox during the 2nd quarter worth $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.