Oppenheimer Cuts XPO (NYSE:XPO) Price Target to $142.00

XPO (NYSE:XPO) had its price target lowered by Oppenheimer from $176.00 to $142.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

A number of other analysts have also recently commented on XPO. Susquehanna reduced their price target on XPO from $180.00 to $138.00 and set a “positive” rating for the company in a research report on Monday, March 31st. Benchmark raised their target price on shares of XPO from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Truist Financial started coverage on shares of XPO in a report on Thursday, March 13th. They issued a “buy” rating and a $130.00 target price for the company. UBS Group increased their price objective on shares of XPO from $159.00 to $170.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on XPO in a research report on Friday, March 7th. They issued a “buy” rating and a $156.00 target price on the stock. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat.com, XPO presently has an average rating of “Buy” and an average price target of $150.58.

XPO Price Performance

NYSE XPO opened at $91.54 on Friday. The company has a 50-day moving average price of $122.48 and a 200-day moving average price of $129.73. XPO has a 52 week low of $85.06 and a 52 week high of $161.00. 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 firm has a market capitalization of $10.73 billion, a P/E ratio of 28.34, a PEG ratio of 1.79 and a beta of 2.05.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 anticipate that XPO will post 4.15 earnings per share for the current year.

XPO declared that its board has initiated a share buyback plan on Thursday, March 27th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at XPO

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

Hedge Funds Weigh In On XPO

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in XPO by 25.9% in the third quarter. BNP Paribas Financial Markets now owns 27,648 shares of the transportation company’s stock valued at $2,972,000 after acquiring an additional 5,680 shares during the period. Townsquare Capital LLC acquired a new stake in shares of XPO in the third quarter valued at about $232,000. Centiva Capital LP boosted its holdings in XPO by 49.5% during the third quarter. Centiva Capital LP now owns 4,754 shares of the transportation company’s stock worth $511,000 after buying an additional 1,574 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in XPO by 30.6% during the third quarter. Quantinno Capital Management LP now owns 4,979 shares of the transportation company’s stock worth $535,000 after buying an additional 1,168 shares in the last quarter. Finally, Stifel Financial Corp grew its position in XPO by 159.1% during the third quarter. Stifel Financial Corp now owns 70,407 shares of the transportation company’s stock worth $7,569,000 after buying an additional 43,237 shares during the period. 97.73% of the stock is owned by hedge funds and other institutional investors.

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.