Forest Avenue Capital Management LP Has $50.66 Million Stock Holdings in XPO, Inc. $XPO

Key Points

• Forest Avenue Capital Management LP reduced its XPO, Inc. holdings by 39.8% in the first quarter, selling 311,120 shares and maintaining a 6.9% portfolio stake in the transportation company.
• Several analysts have increased their price targets for XPO, with JPMorgan Chase & Co. raising it to $130.00 and Oppenheimer to $150.00, indicating a generally positive outlook for the stock.
• XPO reported earnings of $1.05 per share for its latest quarter, exceeding estimates, and demonstrated a year-over-year revenue increase, further enhancing investor confidence.

Forest Avenue Capital Management LP decreased its stake in XPO, Inc. (NYSE:XPO - Free Report) by 39.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 470,917 shares of the transportation company's stock after selling 311,120 shares during the quarter. XPO accounts for about 6.9% of Forest Avenue Capital Management LP's investment portfolio, making the stock its 8th largest holding. Forest Avenue Capital Management LP owned 0.40% of XPO worth $50,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of XPO. Northwestern Mutual Wealth Management Co. boosted its position in XPO by 23.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,603 shares of the transportation company's stock worth $172,000 after acquiring an additional 307 shares during the period. Greenstone Partners & Co. LLC acquired a new stake in XPO during the 1st quarter worth about $18,290,000. T. Rowe Price Investment Management Inc. boosted its position in XPO by 17.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,073,352 shares of the transportation company's stock worth $223,052,000 after acquiring an additional 306,928 shares during the period. Groupama Asset Managment lifted its holdings in shares of XPO by 15.1% during the 1st quarter. Groupama Asset Managment now owns 437,403 shares of the transportation company's stock valued at $46,841,000 after buying an additional 57,254 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of XPO by 1,176.0% during the 1st quarter. Hsbc Holdings PLC now owns 44,214 shares of the transportation company's stock valued at $4,671,000 after buying an additional 40,749 shares during the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Stock Down 3.1%

XPO stock traded down $4.17 during mid-day trading on Wednesday, reaching $132.16. The company had a trading volume of 1,323,485 shares, compared to its average volume of 1,590,411. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.01 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $128.43 and a two-hundred day simple moving average of $118.97. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.60 and a beta of 1.97. XPO, Inc. has a 52 week low of $85.06 and a 52 week high of $161.00.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The transportation company reported $1.05 earnings per share for the quarter, beating 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 firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $1.12 earnings per share. The business's revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on XPO shares. UBS Group lifted their price target on XPO from $123.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley reduced their price target on XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a report on Friday, August 1st. TD Cowen reduced their price target on XPO from $136.00 to $133.00 and set a "buy" rating for the company in a report on Friday, June 27th. Bank of America lifted their price target on XPO from $139.00 to $150.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Oppenheimer lifted their price target on XPO from $126.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Nineteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

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.