XPO (NYSE:XPO) Shares Gap Up on Better-Than-Expected Earnings

XPO, Inc. (NYSE:XPO)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $108.92, but opened at $122.00. XPO shares last traded at $118.19, with a volume of 1,075,753 shares.

The transportation company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. XPO had a return on equity of 29.85% and a net margin of 2.44%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Analyst Ratings Changes

XPO has been the subject of several analyst reports. Morgan Stanley lowered shares of XPO from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $75.00 to $80.00 in a report on Monday, February 12th. Bank of America upped their target price on XPO from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Citigroup raised their price target on XPO from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Stifel Nicolaus upped their price objective on XPO from $77.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, Oppenheimer increased their target price on XPO from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, XPO currently has an average rating of “Moderate Buy” and a consensus target price of $111.65.

Institutional Trading of XPO

Several hedge funds and other institutional investors have recently bought and sold shares of XPO. Vanguard Group Inc. raised its position in shares of XPO by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,923,106 shares of the transportation company’s stock worth $956,755,000 after acquiring an additional 128,214 shares in the last quarter. Capital Research Global Investors grew its stake in XPO by 49.9% in the fourth quarter. Capital Research Global Investors now owns 9,290,937 shares of the transportation company’s stock valued at $813,824,000 after purchasing an additional 3,094,390 shares during the last quarter. Capital World Investors grew its stake in XPO by 13.1% in the fourth quarter. Capital World Investors now owns 4,349,181 shares of the transportation company’s stock valued at $380,945,000 after purchasing an additional 503,388 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in XPO by 44.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,515,529 shares of the transportation company’s stock worth $132,745,000 after purchasing an additional 463,267 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of XPO by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,468,051 shares of the transportation company’s stock valued at $128,603,000 after buying an additional 67,797 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.

XPO Stock Up 3.3 %

The business’s fifty day moving average price is $120.80 and its two-hundred day moving average price is $100.16. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $13.09 billion, a P/E ratio of 69.91, a PEG ratio of 2.62 and a beta of 2.17.

XPO Company Profile

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.