The XPO Logistics Inc. (XPO) Upgraded to “Buy” at Zacks Investment Research

The XPO Logistics Inc. (XPO) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of XPO Logistics Inc. (NYSE:XPO) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $41.00 price objective 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. “

Other analysts have also recently issued research reports about the stock. Deutsche Bank AG boosted their target price on shares of XPO Logistics from $37.00 to $42.00 and gave the stock a buy rating in a research note on Friday, August 5th. Stifel Nicolaus boosted their target price on shares of XPO Logistics from $35.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 5th. Cowen and Company upped their price objective on shares of XPO Logistics from $26.00 to $38.00 and gave the company an outperform rating in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed an outperform rating on shares of XPO Logistics in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of XPO Logistics from $40.00 to $50.00 and gave the company an overweight rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $42.20.

Shares of XPO Logistics (NYSE:XPO) opened at 36.35 on Wednesday. The firm has a 50-day moving average price of $35.65 and a 200-day moving average price of $31.06. XPO Logistics has a 52 week low of $18.04 and a 52 week high of $37.94. The stock’s market cap is $4.00 billion.

XPO Logistics (NYSE:XPO) last released its earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. The business earned $3.68 billion during the quarter. XPO Logistics had a negative net margin of 1.01% and a positive return on equity of 0.14%. The firm’s revenue for the quarter was up 202.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) EPS. On average, equities analysts anticipate that XPO Logistics will post $0.97 earnings per share for the current year.

In other news, major shareholder Private Ltd Gic sold 145,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $37.42, for a total value of $5,425,900.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 17.20% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd bought a new position in shares of XPO Logistics during the first quarter valued at approximately $551,439,000. State Street Corp raised its position in shares of XPO Logistics by 6.4% in the first quarter. State Street Corp now owns 1,539,732 shares of the company’s stock valued at $47,269,000 after buying an additional 92,544 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of XPO Logistics by 5.8% in the second quarter. Douglas Lane & Associates LLC now owns 1,213,996 shares of the company’s stock valued at $31,880,000 after buying an additional 67,090 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of XPO Logistics by 12.5% in the first quarter. Loomis Sayles & Co. L P now owns 4,447 shares of the company’s stock valued at $137,000 after buying an additional 493 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in shares of XPO Logistics during the second quarter valued at approximately $102,000. Hedge funds and other institutional investors own 94.27% of the company’s stock.

About XPO Logistics

XPO Logistics (NYSE:XPO) is a global logistics company operating in 34 countries, with over 88,000 employees and 1,440 locations. The company provides supply chain solutions in two reporting segments: transportation and logistics. The logistics segment offers e-commerce fulfillment, reverse logistics, factory and aftermarket support, packaging and labeling, distribution and managed transportation.

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