Boothbay Fund Management LLC Invests $7.26 Million in XPO, Inc. $XPO

Key Points

• Boothbay Fund Management LLC has acquired a new position in XPO, Inc. valued at approximately $7.26 million, purchasing 67,449 shares during the first quarter of the year.
• Several other hedge funds also increased their investments in XPO, with T. Rowe Price boosting its holdings by 17.4% and Durable Capital Partners raising its position by 246.4% in the same period.
• XPO has received multiple upgrades from analysts, with a current consensus rating of "Moderate Buy" and a target price averaging around $138.00 following several upward revisions from firms like Citigroup and Barclays.

Boothbay Fund Management LLC bought a new position in XPO, Inc. (NYSE:XPO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 67,449 shares of the transportation company's stock, valued at approximately $7,256,000. Boothbay Fund Management LLC owned approximately 0.06% of XPO at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of XPO. SouthState Corp purchased a new stake in XPO in the 1st quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in XPO by 89.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock worth $26,000 after purchasing an additional 113 shares in the last quarter. Parallel Advisors LLC lifted its stake in XPO by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock worth $52,000 after purchasing an additional 180 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in XPO by 65.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock worth $57,000 after purchasing an additional 209 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in XPO in the 1st quarter worth approximately $91,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPO. Stephens reissued an "overweight" rating and issued a $131.00 price target on shares of XPO in a report on Thursday, June 5th. Stifel Nicolaus decreased their price target on shares of XPO from $145.00 to $136.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Truist Financial increased their price target on shares of XPO from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company increased their price target on shares of XPO from $144.00 to $147.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Benchmark increased their price target on shares of 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 given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

XPO Trading Down 0.0%

Shares of XPO stock traded down $0.04 on Friday, hitting $130.79. 924,781 shares of the company's stock traded hands, compared to its average volume of 1,120,888. 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 company's fifty day simple moving average is $129.38 and its 200 day simple moving average is $118.14. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 45.26, a P/E/G ratio of 2.53 and a beta of 1.96.

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

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.