Share Buyback Program Authorized by XPO (NYSE:XPO)

XPO (NYSE:XPO) declared that its Board of Directors has approved a share repurchase plan on Thursday, March 27th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

XPO Price Performance

Shares of XPO stock opened at $112.82 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $13.23 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. The firm has a fifty day moving average price of $126.59 and a two-hundred day moving average price of $129.53. XPO has a fifty-two week low of $97.03 and a fifty-two week high of $161.00.

XPO (NYSE:XPO) last released its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, beating 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%. Analysts expect that XPO will post 4.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark raised their price target on XPO from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. The Goldman Sachs Group increased their target price on shares of XPO from $150.00 to $167.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Vertical Research raised XPO from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, March 6th. Barclays lowered their price objective on XPO from $165.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. boosted their target price on XPO from $146.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Nineteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, XPO presently has an average rating of “Buy” and an average target price of $156.37.

Insiders Place Their Bets

In other news, COO David J. Bates bought 1,880 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the purchase, the chief operating officer now owns 21,106 shares of the company’s stock, valued at $2,240,612.96. This trade represents a 9.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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.