Wells Fargo & Company Cuts XPO (NYSE:XPO) Price Target to $130.00

XPO (NYSE:XPO) had its target price trimmed by Wells Fargo & Company from $170.00 to $130.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

XPO has been the subject of several other research reports. Oppenheimer upped their price target on shares of XPO from $148.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Raymond James cut their target price on XPO from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus upgraded XPO from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on XPO in a report on Friday, March 7th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, 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. Nineteen analysts have rated the stock with a buy rating, According to data from MarketBeat, XPO has a consensus rating of “Buy” and an average target price of $155.37.

XPO Stock Performance

NYSE XPO opened at $107.36 on Thursday. 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 fifty-two week low of $97.03 and a fifty-two week high of $161.00. The business has a fifty day moving average of $125.98 and a 200-day moving average of $129.77. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping 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, analysts predict that XPO will post 4.15 earnings per share for the current fiscal year.

XPO declared that its board has approved a share repurchase program on Thursday, March 27th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the transportation company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at XPO

In other XPO news, COO David J. Bates acquired 1,880 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $106.16 per share, with a total value of $199,580.80. Following the transaction, the chief operating officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On XPO

A number of hedge funds and other institutional investors have recently bought and sold shares of XPO. Argent Trust Co raised its position in shares of XPO by 1.9% during the 4th quarter. Argent Trust Co now owns 3,940 shares of the transportation company’s stock worth $517,000 after purchasing an additional 75 shares during the period. Larson Financial Group LLC boosted its holdings in shares of XPO by 25.6% during the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 76 shares during the period. Scientech Research LLC increased its holdings in shares of XPO by 0.9% in the 4th quarter. Scientech Research LLC now owns 9,843 shares of the transportation company’s stock worth $1,291,000 after acquiring an additional 84 shares during the period. UMB Bank n.a. lifted its position in XPO by 19.0% in the 4th quarter. UMB Bank n.a. now owns 538 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 86 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its stake in XPO by 2.1% during the 4th quarter. SageView Advisory Group LLC now owns 4,626 shares of the transportation company’s stock valued at $607,000 after purchasing an additional 96 shares during the period. 97.73% of the stock is currently 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.