XPO Logistics Inc. (NYSE:XPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. started coverage on XPO Logistics in a report on Monday, July 11th. They issued an “overweight” rating and a $40.00 price target for the company. Oppenheimer Holdings Inc. raised their price objective on XPO Logistics from $33.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Deutsche Bank AG restated a “buy” rating on shares of XPO Logistics in a research note on Wednesday, June 22nd. Cowen and Company raised their price objective on XPO Logistics from $26.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Finally, Stifel Nicolaus raised their price objective on XPO Logistics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.20.
XPO Logistics (NYSE:XPO) opened at 36.61 on Thursday. The company’s market capitalization is $4.03 billion. XPO Logistics has a 1-year low of $18.04 and a 1-year high of $37.94. The firm has a 50-day moving average price of $35.65 and a 200 day moving average price of $30.94.
XPO Logistics (NYSE:XPO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.15. The business earned $3.68 billion during the quarter. XPO Logistics had a positive return on equity of 0.14% and a negative net margin of 1.01%. XPO Logistics’s revenue was up 202.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. On average, equities analysts predict that XPO Logistics will post $0.97 EPS for the current year.
In other news, major shareholder Sector Pension Investme Public sold 4,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $26.20, for a total value of $104,800,000.00. Following the completion of the sale, the insider now directly owns 9,637,746 shares in the company, valued at $252,508,945.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Private Ltd Gic sold 310,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $36.75, for a total value of $11,392,500.00. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Group LTD boosted its stake in XPO Logistics by 46.5% in the first quarter. BlackRock Group LTD now owns 62,816 shares of the company’s stock worth $1,928,000 after buying an additional 19,943 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in XPO Logistics by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,024,364 shares of the company’s stock worth $62,148,000 after buying an additional 17,913 shares during the period. M&T Bank Corp acquired a new stake in XPO Logistics during the first quarter worth approximately $263,000. Motley Fool Wealth Management LLC boosted its stake in XPO Logistics by 10.1% in the first quarter. Motley Fool Wealth Management LLC now owns 107,603 shares of the company’s stock worth $3,303,000 after buying an additional 9,863 shares during the period. Finally, Cupps Capital Management LLC boosted its stake in XPO Logistics by 14.2% in the first quarter. Cupps Capital Management LLC now owns 183,338 shares of the company’s stock worth $5,628,000 after buying an additional 22,810 shares during the period. Institutional investors and hedge funds own 94.27% of the company’s stock.
About XPO Logistics
XPO Logistics, Inc is a transportation and logistics company. The Company provides supply chain solutions. The Company operates in two segments: Transportation and Logistics. In the Transportation segment, it provides multiple services to facilitate the movement of raw materials, parts and finished goods.