XPO (NYSE:XPO) Given New $131.00 Price Target at Bank of America

XPO (NYSE:XPO) had its target price cut by Bank of America from $150.00 to $131.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research analysts have also issued reports on XPO. Oppenheimer increased their price target on XPO from $148.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Truist Financial assumed coverage on shares of XPO in a research report on Thursday, March 13th. They issued a “buy” rating and a $130.00 price target for the company. Stifel Nicolaus upgraded shares of XPO from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a report on Monday, February 24th. Jefferies Financial Group boosted their target price on shares of XPO from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Vertical Research raised shares of XPO from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Thursday, March 6th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, XPO currently has a consensus rating of “Buy” and an average price target of $155.37.

XPO Stock Performance

NYSE:XPO opened at $107.36 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. XPO has a twelve month low of $97.03 and a twelve month high of $161.00. The company has a fifty day moving average of $125.98 and a 200-day moving average of $129.57. The firm has a market capitalization of $12.59 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last posted its quarterly 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%. As a group, sell-side analysts anticipate that XPO will post 4.15 EPS for the current year.

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

Insider Transactions at XPO

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

Institutional Investors Weigh In On XPO

Several institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its stake in shares of XPO by 44.5% during the 3rd quarter. Quantbot Technologies LP now owns 5,725 shares of the transportation company’s stock valued at $615,000 after purchasing an additional 1,764 shares during the period. Brooklyn Investment Group purchased a new position in XPO during the 3rd quarter valued at about $57,000. BNP Paribas Financial Markets grew its holdings in XPO by 25.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,648 shares of the transportation company’s stock valued at $2,972,000 after buying an additional 5,680 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of XPO during the third quarter valued at about $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of XPO by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,534 shares of the transportation company’s stock worth $2,745,000 after buying an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.

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.