Adage Capital Partners GP L.L.C. Buys New Position in XPO, Inc. $XPO

Key Points

• Adage Capital Partners GP L.L.C. acquired 92,382 shares of XPO, Inc. valued at approximately $9.94 million, representing a 0.08% stake in the company.
• XPO reported a quarterly earnings per share (EPS) of $1.05, surpassing estimates, with revenues of $2.08 billion, indicating positive growth compared to last year's same quarter.
• Equities analysts have increased target prices for XPO, with Barclays setting a new target of $145.00 and Oppenheimer at $150.00, reflecting a largely positive outlook for the stock.

Adage Capital Partners GP L.L.C. acquired a new position in shares of XPO, Inc. (NYSE:XPO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 92,382 shares of the transportation company's stock, valued at approximately $9,938,000. Adage Capital Partners GP L.L.C. owned about 0.08% of XPO at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC bought a new position in shares of XPO during the first quarter worth about $247,000. Allspring Global Investments Holdings LLC raised its position in shares of XPO by 14.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,632 shares of the transportation company's stock worth $2,689,000 after acquiring an additional 3,057 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of XPO by 50.9% during the first quarter. Teacher Retirement System of Texas now owns 21,454 shares of the transportation company's stock worth $2,308,000 after acquiring an additional 7,237 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of XPO by 88.0% during the first quarter. Vontobel Holding Ltd. now owns 3,719 shares of the transportation company's stock worth $400,000 after acquiring an additional 1,741 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of XPO by 57.0% during the first quarter. GAMMA Investing LLC now owns 1,782 shares of the transportation company's stock worth $192,000 after acquiring an additional 647 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

XPO has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on XPO from $144.00 to $147.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus lowered their price objective on XPO from $145.00 to $136.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Morgan Stanley lowered their price objective on XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Susquehanna raised their price objective on XPO from $138.00 to $145.00 and gave the stock a "positive" rating in a research report on Wednesday, June 18th. Finally, Benchmark lifted their target price on XPO from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

XPO Stock Down 3.0%

Shares of NYSE:XPO traded down $4.00 during trading on Friday, reaching $130.40. 713,840 shares of the stock were exchanged, compared to its average volume of 1,101,315. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.01 and a quick ratio of 1.02. XPO, Inc. has a 1-year low of $85.06 and a 1-year high of $161.00. The stock has a fifty day moving average of $129.48 and a two-hundred day moving average of $118.40. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 2.60 and a beta of 1.96.

XPO (NYSE:XPO - Get Free Report) last issued its earnings results on Thursday, July 31st. The transportation company reported $1.05 earnings per share 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 analyst estimates of $2.05 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. XPO's revenue for the quarter was up .0% on a year-over-year basis. Research analysts anticipate that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at XPO

In other news, Director Allison Landry sold 3,250 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $135.04, for a total transaction of $438,880.00. Following the transaction, the director directly owned 5,875 shares of the company's stock, valued at $793,360. This represents a 35.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by insiders.

XPO Profile

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.