Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a report released on Saturday morning. They currently have $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. “
XPO has been the topic of a number of other research reports. Oppenheimer Holdings Inc. restated an outperform rating on shares of XPO Logistics in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. began coverage on XPO Logistics in a research report on Monday, July 11th. They issued an overweight rating and a $40.00 price target on the stock. Deutsche Bank AG raised their price target on XPO Logistics from $37.00 to $42.00 and gave the stock a buy rating in a research report on Friday, August 5th. Stifel Nicolaus lifted their target price on XPO Logistics from $35.00 to $50.00 and gave the company a buy rating in a research report on Friday, August 5th. Finally, Cowen and Company lifted their target price on XPO Logistics from $26.00 to $38.00 and gave the company an outperform rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. XPO Logistics currently has an average rating of Buy and a consensus price target of $42.20.
XPO Logistics (NYSE:XPO) opened at 36.67 on Friday. The stock has a 50 day moving average of $35.58 and a 200 day moving average of $30.71. The firm’s market cap is $4.04 billion. XPO Logistics has a 52 week low of $18.04 and a 52 week high of $37.94.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.15. XPO Logistics had a positive return on equity of 0.14% and a negative net margin of 1.01%. The company had revenue of $3.68 billion for the quarter. During the same quarter in the previous year, the business posted ($0.16) EPS. The firm’s revenue for the quarter was up 202.9% on a year-over-year basis. Analysts anticipate that XPO Logistics will post $0.98 EPS for the current year.
In related news, major shareholder Sector Pension Investme Public sold 4,000,000 shares of XPO Logistics stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $26.20, for a total value of $104,800,000.00. Following the transaction, the insider now directly owns 9,637,746 shares of the company’s stock, valued at $252,508,945.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Private Ltd Gic sold 145,000 shares of XPO Logistics stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $37.42, for a total value of $5,425,900.00. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of XPO. BlackRock Group LTD raised its position in shares of XPO Logistics by 46.5% in the first quarter. BlackRock Group LTD now owns 62,816 shares of the company’s stock valued at $1,928,000 after buying an additional 19,943 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of XPO Logistics by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,024,364 shares of the company’s stock valued at $62,148,000 after buying an additional 17,913 shares during the period. M&T Bank Corp acquired a new position in shares of XPO Logistics during the first quarter valued at about $263,000. Motley Fool Wealth Management LLC raised its position in shares of XPO Logistics by 10.1% in the first quarter. Motley Fool Wealth Management LLC now owns 107,603 shares of the company’s stock valued at $3,303,000 after buying an additional 9,863 shares during the period. Finally, Cupps Capital Management LLC raised its position in shares of XPO Logistics by 14.2% in the first quarter. Cupps Capital Management LLC now owns 183,338 shares of the company’s stock valued at $5,628,000 after buying an additional 22,810 shares during the period. 94.27% of the stock is currently owned by institutional investors.
XPO Logistics Company Profile
XPO Logistics, Inc is a transportation and logistics company. The Company provides supply chain solutions. The Company operates in two segments: Transportation and Logistics. In the Transportation segment, it provides multiple services to facilitate the movement of raw materials, parts and finished goods.
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