Xerox (NYSE:XRX) Raised to Buy at StockNews.com

Xerox (NYSE:XRX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other equities research analysts also recently weighed in on XRX. JPMorgan Chase & Co. lowered their target price 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. Morgan Stanley decreased their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Down 5.8 %

Shares of NYSE XRX traded down $0.56 during mid-day trading on Tuesday, reaching $9.15. 4,810,274 shares of the company were exchanged, compared to its average volume of 2,512,085. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The firm has a 50-day moving average of $8.94 and a 200 day moving average of $9.75. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. 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 (NYSE:XRX) last released 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 negative net margin of 21.31% and a positive return on equity of 6.60%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Xerox

A number of large investors have recently made changes to their positions in XRX. Pacer Advisors Inc. lifted its position in Xerox by 33.2% during the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares during the period. Geode Capital Management LLC boosted its position in Xerox by 2.3% in the third 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 buying an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after buying an additional 107,580 shares during the period. Sound Income Strategies LLC raised its position in Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after buying an additional 69,182 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Xerox by 9.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after acquiring an additional 69,183 shares during the period. 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.