XPO (NYSE:XPO) Shares Gap Down Following Analyst Downgrade

XPO, Inc. (NYSE:XPO) gapped down prior to trading on Friday after Bank of America lowered their price target on the stock from $150.00 to $131.00. The stock had previously closed at $113.21, but opened at $110.43. Bank of America currently has a buy rating on the stock. XPO shares last traded at $109.79, with a volume of 258,748 shares.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of XPO in a report on Friday, March 7th. They set a “buy” rating and a $156.00 price target on the stock. Oppenheimer raised their price objective on XPO from $148.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Truist Financial initiated coverage on XPO in a report on Thursday, March 13th. They issued a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus raised XPO from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a research note on Monday, February 24th. Finally, Raymond James reduced their price objective on XPO from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $155.37.

Insider Activity

In other news, COO David J. Bates bought 1,880 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the purchase, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. The trade was a 9.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of XPO

Several hedge funds and other institutional investors have recently made changes to their positions in XPO. Capital Research Global Investors increased its position in XPO by 18.5% during the 4th quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock valued at $1,789,171,000 after buying an additional 2,125,686 shares in the last quarter. Vanguard Group Inc. grew its position in XPO by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,034,926 shares of the transportation company’s stock worth $1,447,231,000 after purchasing an additional 79,393 shares during the last quarter. Capital World Investors raised its holdings in shares of XPO by 26.1% in the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock worth $1,016,923,000 after buying an additional 1,605,001 shares during the last quarter. D1 Capital Partners L.P. grew its stake in XPO by 84.2% during the 3rd quarter. D1 Capital Partners L.P. now owns 4,711,042 shares of the transportation company’s stock valued at $506,484,000 after purchasing an additional 2,153,042 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of XPO by 1.1% during the third quarter. State Street Corp now owns 3,477,846 shares of the transportation company’s stock worth $373,903,000 after purchasing an additional 37,486 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Stock Down 3.5 %

The business has a 50 day moving average price of $126.59 and a 200 day moving average price of $129.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $12.80 billion, a PE ratio of 33.81, a P/E/G ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. Equities research analysts expect that XPO, Inc. will post 4.15 EPS for the current fiscal year.

XPO announced that its board has approved a share buyback plan on Thursday, March 27th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About XPO

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.