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 Tuesday.

XRX has been the subject of several other research reports. Morgan Stanley dropped their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Loop Capital decreased their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Price Performance

Shares of NYSE XRX traded down $0.08 during mid-day trading on Tuesday, reaching $9.08. The company’s stock had a trading volume of 1,928,583 shares, compared to its average volume of 2,193,009. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The stock has a fifty day moving average of $9.64 and a two-hundred day moving average of $11.11. The firm has a market capitalization of $1.13 billion, a PE ratio of -0.82 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned $0.46 earnings per share. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xerox will post 1.12 EPS for the current fiscal year.

Institutional Trading of Xerox

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in 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 worth $8,269,000 after purchasing an additional 69,183 shares during the last quarter. SG Capital Management LLC purchased a new position in Xerox during the 1st quarter valued at $8,466,000. AQR Capital Management LLC grew its position in Xerox by 75.2% in 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 increased its stake in Xerox by 16.9% in the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Xerox by 27.9% during the third 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. Hedge funds and other 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.