Xerox (NYSE:XRX) Stock Rating Upgraded by StockNews.com

Xerox (NYSE:XRX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other analysts also recently weighed in on the stock. Morgan Stanley cut their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Loop Capital cut their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Xerox presently has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Down 0.2 %

Shares of NYSE XRX opened at $9.06 on Tuesday. The firm has a market capitalization of $1.13 billion, a PE ratio of -0.82 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The firm’s 50-day moving average is $9.61 and its 200-day moving average is $11.08.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that Xerox will post 1.12 EPS for the current year.

Institutional Trading of Xerox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its holdings in shares of Xerox by 9.5% in the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after purchasing an additional 69,183 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Xerox in the first quarter valued at approximately $8,466,000. AQR Capital Management LLC raised its holdings in shares of Xerox by 75.2% in the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after purchasing an additional 76,886 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Xerox by 16.9% in the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock valued at $7,704,000 after purchasing an additional 107,127 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after purchasing an additional 225,617 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.