Wells Fargo & Company Has Lowered Expectations for XPO (NYSE:XPO) Stock Price

XPO (NYSE:XPO) had its price target dropped by Wells Fargo & Company from $170.00 to $130.00 in a research note issued to investors on Thursday, March 27th,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 28.94% from the stock’s previous close.

A number of other research firms have also recently weighed in on XPO. Barclays lowered their price target on shares of XPO from $165.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. UBS Group upped their price target on XPO from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on XPO in a research report on Friday, March 7th. They set a “buy” rating and a $156.00 target price on the stock. Benchmark upped their price objective on shares of XPO from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Truist Financial assumed coverage on shares of XPO in a research report on Thursday, March 13th. They set a “buy” rating and a $130.00 target price on the stock. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $152.37.

XPO Stock Down 9.4 %

Shares of XPO traded down $10.49 during midday trading on Thursday, reaching $100.82. 911,611 shares of the stock were exchanged, compared to its average volume of 1,547,221. The company’s 50 day moving average is $124.29 and its two-hundred day moving average is $129.83. XPO has a 52 week low of $97.03 and a 52 week high of $161.00. The company has a market capitalization of $11.82 billion, a P/E ratio of 31.21, a PEG ratio of 1.79 and a beta of 2.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. On average, sell-side analysts anticipate that XPO will post 4.15 earnings per share for the current year.

XPO declared that its board has authorized a stock repurchase plan on Thursday, March 27th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at XPO

In other XPO news, COO David J. Bates purchased 1,880 shares of the business’s 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 purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. D1 Capital Partners L.P. increased its stake in XPO by 84.2% during the 3rd quarter. D1 Capital Partners L.P. now owns 4,711,042 shares of the transportation company’s stock worth $506,484,000 after buying an additional 2,153,042 shares in the last quarter. Capital Research Global Investors increased its position in shares of XPO by 18.5% during the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock worth $1,789,171,000 after purchasing an additional 2,125,686 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in XPO in the 4th quarter valued at $231,667,000. Capital World Investors lifted its holdings in XPO by 26.1% in the 4th quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock valued at $1,016,923,000 after purchasing an additional 1,605,001 shares in the last quarter. Finally, Norges Bank acquired a new stake in XPO during the 4th quarter worth $188,808,000. 97.73% of the stock is owned by institutional investors and hedge funds.

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.