XPO (NYSE:XPO) Sets New 12-Month High – Here’s What Happened
by Michael Walen · The Markets DailyXPO, Inc. (NYSE:XPO – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $221.82 and last traded at $221.1570, with a volume of 926984 shares changing hands. The stock had previously closed at $210.33.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on XPO from $189.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Zacks Research upgraded XPO from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of XPO in a research report on Tuesday, March 3rd. Barclays set a $195.00 target price on XPO and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Stephens reiterated an “overweight” rating and set a $170.00 target price on shares of XPO in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, XPO currently has a consensus rating of “Moderate Buy” and an average target price of $184.43.
XPO Stock Up 1.4%
The business has a 50-day moving average price of $199.93 and a 200-day moving average price of $161.58. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 84.99, a price-to-earnings-growth ratio of 2.91 and a beta of 1.94. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.75.
XPO (NYSE:XPO – Get Free Report) last announced its earnings results on Thursday, February 5th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. XPO had a return on equity of 25.07% and a net margin of 3.87%.XPO’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of XPO. Cooke & Bieler LP grew its stake in shares of XPO by 9.0% during the third quarter. Cooke & Bieler LP now owns 933,745 shares of the transportation company’s stock worth $120,705,000 after buying an additional 76,847 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of XPO by 86.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 86,726 shares of the transportation company’s stock worth $11,008,000 after buying an additional 40,235 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in shares of XPO by 67.2% during the third quarter. Gateway Investment Advisers LLC now owns 18,431 shares of the transportation company’s stock worth $2,383,000 after buying an additional 7,406 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of XPO by 6.3% during the third quarter. Primecap Management Co. CA now owns 587,534 shares of the transportation company’s stock worth $75,951,000 after buying an additional 35,050 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in shares of XPO during the third quarter worth $5,808,000. 97.73% of the stock is currently owned by institutional investors.
About XPO
XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.
In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.