EverSource Wealth Advisors LLC purchased a new position in XPO Logistics, Inc. (NYSE:XPO – Get Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 826 shares of the transportation company’s stock, valued at approximately $60,000.
Other hedge funds have also recently made changes to their positions in the company. Prospera Financial Services Inc bought a new position in XPO Logistics in the 1st quarter valued at approximately $32,000. Allworth Financial LP lifted its position in XPO Logistics by 155.5% in the 1st quarter. Allworth Financial LP now owns 580 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 353 shares in the last quarter. Parallel Advisors LLC lifted its position in XPO Logistics by 5,175.0% in the 1st quarter. Parallel Advisors LLC now owns 633 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 621 shares in the last quarter. Herold Advisors Inc. bought a new position in XPO Logistics in the 1st quarter valued at approximately $55,000. Finally, Salem Investment Counselors Inc. bought a new position in XPO Logistics in the 1st quarter valued at approximately $60,000. 97.35% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on XPO. Barclays lowered their price objective on XPO Logistics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, June 27th. Evercore ISI lowered their price target on XPO Logistics from $83.00 to $67.00 in a report on Tuesday, July 12th. Raymond James increased their price target on XPO Logistics from $70.00 to $80.00 in a report on Tuesday, August 9th. Citigroup increased their price target on XPO Logistics from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, August 8th. Finally, KeyCorp increased their price target on XPO Logistics from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Nineteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $90.11.
XPO Logistics Trading Down 4.7 %
XPO Logistics (NYSE:XPO – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.32. XPO Logistics had a return on equity of 45.28% and a net margin of 5.20%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business posted $1.86 EPS. XPO Logistics’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that XPO Logistics, Inc. will post 5.82 EPS for the current year.
Insiders Place Their Bets
In other XPO Logistics news, CEO S Jacobs Bradley sold 50,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $53.49, for a total value of $2,674,500.00. Following the completion of the sale, the chief executive officer now owns 6,361,730 shares in the company, valued at approximately $340,288,937.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 5,117,500 shares of company stock worth $282,215,408. Corporate insiders own 11.20% of the company’s stock.
About XPO Logistics
XPO Logistics, 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 Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services.
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