Xerox (NYSE:XRX) Upgraded to “Buy” at StockNews.com

by · The Cerbat Gem

Xerox (NYSE:XRX – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

View Our Latest Research Report on Xerox

Xerox Stock Performance

Shares of Xerox stock opened at $9.15 on Thursday. The business has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $10.31. The company has a market cap of $1.14 billion, a PE ratio of -0.83 and a beta of 1.59. Xerox has a one year low of $8.02 and a one year high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.46 EPS. The company’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that Xerox will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XRX. Tidal Investments LLC boosted its holdings in shares of Xerox by 26.1% in the third quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock valued at $710,000 after acquiring an additional 14,164 shares during the period. Geode Capital Management LLC raised its position in Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after purchasing an additional 62,947 shares during the last quarter. Barclays PLC boosted its stake in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares during the period. Stifel Financial Corp grew its position in Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock worth $1,582,000 after purchasing an additional 46,708 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Xerox by 39.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock worth $398,000 after purchasing an additional 10,794 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

(Get Free Report)

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.

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