Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $41.00 price target on the stock.
According to Zacks, “XPO Logistics, Inc. is a third-party logistics provider offering expedient, single-source solutions for time-critical and service-sensitive shipments through its non-asset based transportation network. XPO serves customers in the U.S, Canada and Mexico with domestic and international freight destinations. XPO’s suite of logistics services is offered through three brands: expedited surface transportation through Express-1, Inc., domestic and international freight forwarding services through Concert Group Logistics, Inc., and truckload brokerage services through Bounce Logistics, Inc. XPO Logistics, Inc., formerly known as Express-1 Expedited Solutions, Inc., is based in Buchanan, Michigan. “
A number of other equities analysts also recently weighed in on XPO. Deutsche Bank AG reissued a buy rating on shares of XPO Logistics in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. started coverage on shares of XPO Logistics in a research note on Monday, July 11th. They set an overweight rating and a $40.00 target price for the company. Oppenheimer Holdings Inc. reissued an outperform rating on shares of XPO Logistics in a research note on Wednesday, August 3rd. Cowen and Company lifted their price target on shares of XPO Logistics from $26.00 to $38.00 and gave the company an outperform rating in a research note on Friday, August 5th. Finally, Stifel Nicolaus lifted their price target on shares of XPO Logistics from $35.00 to $50.00 and gave the company a buy rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. XPO Logistics has an average rating of Buy and a consensus price target of $42.20.
Shares of XPO Logistics (NYSE:XPO) opened at 34.21 on Wednesday. XPO Logistics has a one year low of $18.04 and a one year high of $37.94. The stock has a 50 day moving average of $35.54 and a 200-day moving average of $31.11. The company’s market capitalization is $3.77 billion.
XPO Logistics (NYSE:XPO) last announced its earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. XPO Logistics had a negative net margin of 1.01% and a positive return on equity of 0.14%. The business earned $3.68 billion during the quarter. During the same period in the prior year, the business earned ($0.16) EPS. XPO Logistics’s quarterly revenue was up 202.9% on a year-over-year basis. On average, equities analysts forecast that XPO Logistics will post $0.97 earnings per share for the current fiscal year.
In other news, major shareholder Private Ltd Gic sold 145,000 shares of XPO Logistics stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $37.42, for a total transaction of $5,425,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 17.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of XPO. Orbis Allan Gray Ltd acquired a new position in shares of XPO Logistics during the first quarter worth about $551,439,000. Dimensional Fund Advisors LP boosted its position in shares of XPO Logistics by 56.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,033,893 shares of the company’s stock worth $53,405,000 after buying an additional 730,581 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of XPO Logistics by 34.8% in the second quarter. BlackRock Fund Advisors now owns 2,355,474 shares of the company’s stock worth $61,855,000 after buying an additional 608,252 shares in the last quarter. Oakmont Corp boosted its position in shares of XPO Logistics by 51.2% in the second quarter. Oakmont Corp now owns 1,691,780 shares of the company’s stock worth $44,426,000 after buying an additional 572,980 shares in the last quarter. Finally, Cypress Funds LLC acquired a new position in shares of XPO Logistics during the second quarter worth about $10,504,000. Hedge funds and other institutional investors own 94.27% of the company’s stock.
About XPO Logistics
XPO Logistics (NYSE:XPO) is a global logistics company operating in 34 countries, with over 88,000 employees and 1,440 locations. The company provides supply chain solutions in two reporting segments: transportation and logistics. The logistics segment offers e-commerce fulfillment, reverse logistics, factory and aftermarket support, packaging and labeling, distribution and managed transportation.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for XPO Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XPO Logistics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.