Lord Abbett & CO. LLC Acquires New Shares in XPO, Inc. $XPO

Key Points

• Lord Abbett & CO. LLC acquired 26,014 shares of XPO, Inc. valued at approximately $2.8 million during the 1st quarter, indicating strong institutional interest in the company.
• XPO reported earnings of $1.05 per share for the last quarter, surpassing analysts' expectations, with a revenue of $2.08 billion.
• Analysts have set a consensus target price of $138.00 for XPO, with a majority rating it as a "Moderate Buy."

Lord Abbett & CO. LLC purchased a new position in shares of XPO, Inc. (NYSE:XPO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,014 shares of the transportation company's stock, valued at approximately $2,799,000.

Several other hedge funds also recently made changes to their positions in the business. Ground Swell Capital LLC bought a new position in shares of XPO during the 1st quarter worth approximately $202,000. Neuberger Berman Group LLC boosted its holdings in shares of XPO by 26.3% in the 1st quarter. Neuberger Berman Group LLC now owns 460,485 shares of the transportation company's stock valued at $49,539,000 after buying an additional 95,874 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of XPO by 13.9% in the 1st quarter. HighTower Advisors LLC now owns 8,230 shares of the transportation company's stock valued at $885,000 after buying an additional 1,006 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of XPO by 13.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,949 shares of the transportation company's stock valued at $210,000 after buying an additional 235 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in shares of XPO by 2.2% in the 1st quarter. Independent Advisor Alliance now owns 19,279 shares of the transportation company's stock valued at $2,074,000 after buying an additional 410 shares during the last quarter. 97.73% of the stock is owned by institutional investors.

XPO Price Performance

Shares of NYSE XPO traded down $4.8610 during mid-day trading on Wednesday, reaching $126.5790. The company had a trading volume of 1,183,541 shares, compared to its average volume of 1,595,218. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.02 and a current ratio of 1.01. XPO, Inc. has a one year low of $85.06 and a one year high of $161.00. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 43.80, a PEG ratio of 2.47 and a beta of 1.97. The business's 50-day simple moving average is $127.27 and its 200 day simple moving average is $119.18.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The transportation company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. XPO had a return on equity of 26.48% and a net margin of 4.32%.The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter last year, the business earned $1.12 earnings per share. XPO's revenue was up .0% on a year-over-year basis. On average, research analysts predict that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on XPO shares. Morgan Stanley cut their price objective on XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Susquehanna increased their price objective on XPO from $138.00 to $145.00 and gave the company a "positive" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. increased their price objective on XPO from $121.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Stifel Nicolaus dropped their price target on XPO from $145.00 to $136.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, Wells Fargo & Company increased their price target on XPO from $144.00 to $147.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

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.