Xerox (NYSE:XRX) Upgraded by StockNews.com to “Buy” Rating

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

XRX has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Performance

Shares of XRX opened at $8.59 on Monday. Xerox has a one year low of $8.02 and a one year high of $19.78. The company has a 50-day moving average of $9.16 and a two-hundred day moving average of $10.54. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -0.78 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in Xerox by 9.5% during the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after acquiring an additional 107,580 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Xerox by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after acquiring an additional 76,886 shares during the last quarter. Royce & Associates LP raised its stake in shares of Xerox by 16.9% in the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock valued at $7,704,000 after acquiring an additional 107,127 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

About Xerox

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.