Comerica Bank Decreases Stock Position in XPO, Inc. $XPO

Key Points

• Comerica Bank has reduced its holdings in XPO, Inc. by 14.8% in the first quarter, now owning 48,216 shares valued at approximately $5.2 million.
• XPO, Inc. reported $1.05 earnings per share for the latest quarter, surpassing expectations, and had a revenue of $2.08 billion, slightly above analysts' forecasts.
• Several analysts have increased their price targets for XPO, with Oppenheimer raising it to $150 and the average target price now standing at $138, highlighting a consensus rating of "Moderate Buy."

Comerica Bank decreased its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,216 shares of the transportation company's stock after selling 8,391 shares during the quarter. Comerica Bank's holdings in XPO were worth $5,187,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of XPO. SouthState Corp purchased a new stake in shares of XPO in the first quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of XPO by 89.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after purchasing an additional 113 shares during the period. Parallel Advisors LLC grew its holdings in shares of XPO by 58.8% in the first quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock valued at $52,000 after purchasing an additional 180 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of XPO by 65.7% in the first quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock valued at $57,000 after purchasing an additional 209 shares during the period. Finally, Archer Investment Corp purchased a new stake in shares of XPO in the first quarter valued at about $91,000. Hedge funds and other institutional investors own 97.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on XPO shares. JPMorgan Chase & Co. upped their price objective on shares of XPO from $121.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Susquehanna upped their price objective on shares of XPO from $138.00 to $145.00 and gave the company a "positive" rating in a report on Wednesday, June 18th. Stifel Nicolaus dropped their price objective on shares of XPO from $145.00 to $136.00 and set a "buy" rating for the company in a report on Friday, August 1st. Morgan Stanley dropped their price objective on shares of XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Finally, TD Cowen decreased their target price on shares of XPO from $136.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

XPO Trading Down 2.1%

NYSE XPO traded down $2.77 during trading hours on Tuesday, reaching $126.93. The company had a trading volume of 1,192,889 shares, compared to its average volume of 1,582,054. The stock has a 50-day moving average of $129.14 and a 200 day moving average of $118.36. XPO, Inc. has a 1-year low of $85.06 and a 1-year high of $161.00. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $14.95 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.96.

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

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.