Zacks Investment Research Downgrades XPO Logistics (NYSE:XPO) to Hold

Zacks Investment Research downgraded shares of XPO Logistics (NYSE:XPO) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “XPO Logistics, Inc. is a third-party logistics provider offering expedient, single-source solutions for time-critical and service-sensitive shipments through its non-asset based transportation network. XPO serves customers in the U.S, Canada and Mexico with domestic and international freight destinations. XPO’s suite of logistics services is offered through three brands: expedited surface transportation through Express-1, Inc., domestic and international freight forwarding services through Concert Group Logistics, Inc., and truckload brokerage services through Bounce Logistics, Inc. XPO Logistics, Inc., formerly known as Express-1 Expedited Solutions, Inc., is based in Buchanan, Michigan. “

XPO has been the subject of a number of other reports. Morgan Stanley set a $68.00 price objective on shares of XPO Logistics and gave the company a hold rating in a report on Monday, July 8th. TheStreet raised shares of XPO Logistics from a c+ rating to a b rating in a report on Friday, August 2nd. Credit Suisse Group raised their target price on shares of XPO Logistics from $73.00 to $81.00 and gave the company an outperform rating in a report on Monday, August 5th. Cowen raised their target price on shares of XPO Logistics from $84.00 to $92.00 and gave the company an outperform rating in a report on Friday, August 2nd. Finally, ValuEngine raised shares of XPO Logistics from a sell rating to a hold rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $83.17.

Shares of XPO opened at $66.83 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. XPO Logistics has a 1 year low of $41.05 and a 1 year high of $116.27. The company has a 50 day simple moving average of $62.91 and a two-hundred day simple moving average of $58.07. The firm has a market cap of $6.03 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 0.55 and a beta of 2.39.

XPO Logistics (NYSE:XPO) last announced its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.24. XPO Logistics had a net margin of 2.16% and a return on equity of 11.92%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that XPO Logistics will post 3.82 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of XPO. BlackRock Inc. grew its holdings in shares of XPO Logistics by 76.8% in the first quarter. BlackRock Inc. now owns 11,095,856 shares of the transportation company’s stock valued at $596,290,000 after purchasing an additional 4,818,377 shares in the last quarter. Lyrical Asset Management LP purchased a new position in XPO Logistics during the second quarter worth $176,926,000. Baupost Group LLC MA purchased a new position in XPO Logistics during the second quarter worth $86,715,000. ValueAct Holdings L.P. purchased a new position in XPO Logistics during the second quarter worth $57,810,000. Finally, Bank of Montreal Can boosted its stake in XPO Logistics by 3,023.1% during the first quarter. Bank of Montreal Can now owns 497,603 shares of the transportation company’s stock worth $26,741,000 after buying an additional 514,626 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

About XPO Logistics

XPO Logistics, Inc provides transportation and logistics services in the United States, North America, France, the United Kingdom, Europe, and internationally. The company's Transportation segment offers freight brokerage services comprising truck brokerage, intermodal, drayage, and expedite services; last mile services, primarily asset-light; density and day-definite regional, inter-regional, and transcontinental less-than-truckload freight services; full truckload services for transactional transportation of packaged goods, high cube products, and bulk goods; logistics services for domestic, cross-border, and international shipments; and managed transportation services.

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