Hsbc Holdings PLC Buys 48,972 Shares of XPO, Inc. $XPO

Key Points

• HSBC Holdings PLC increased its XPO stake by 267% in the second quarter, purchasing 48,972 additional shares to reach 67,313 shares valued at approximately $13.8 million.
• XPO reported strong quarterly results, with EPS of $1.70 beating estimates of $1.48 and revenue rising 13.2% year over year to $2.35 billion.
• Analysts remain broadly positive, giving XPO a consensus “Moderate Buy” rating and an average price target of $224.95, despite the stock trading down 1.6% to $189.97.

Hsbc Holdings PLC grew its stake in XPO, Inc. (NYSE:XPO - Free Report) by 267.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,313 shares of the transportation company's stock after buying an additional 48,972 shares during the period. Hsbc Holdings PLC owned 0.06% of XPO worth $13,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in XPO. Parallel Advisors LLC increased its position in XPO by 13.2% during the 1st quarter. Parallel Advisors LLC now owns 421 shares of the transportation company's stock valued at $82,000 after purchasing an additional 49 shares during the period. V Square Quantitative Management LLC increased its position in shares of XPO by 19.1% during the first quarter. V Square Quantitative Management LLC now owns 374 shares of the transportation company's stock worth $73,000 after buying an additional 60 shares during the period. Smartleaf Asset Management LLC increased its position in shares of XPO by 13.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 494 shares of the transportation company's stock worth $68,000 after buying an additional 60 shares during the period. Root Financial Partners LLC lifted its holdings in XPO by 21.1% in the first quarter. Root Financial Partners LLC now owns 362 shares of the transportation company's stock valued at $70,000 after buying an additional 63 shares during the period. Finally, UMB Bank n.a. boosted its position in XPO by 4.4% during the fourth quarter. UMB Bank n.a. now owns 1,483 shares of the transportation company's stock valued at $202,000 after acquiring an additional 63 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors.

XPO Trading Down 1.6%

NYSE XPO opened at $189.97 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The business has a fifty day simple moving average of $202.30 and a 200 day simple moving average of $204.92. XPO, Inc. has a 12 month low of $121.48 and a 12 month high of $232.05. The firm has a market capitalization of $22.24 billion, a P/E ratio of 56.04, a PEG ratio of 1.96 and a beta of 1.85.

XPO (NYSE:XPO - Get Free Report) last posted its earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.22. XPO had a net margin of 4.71% and a return on equity of 29.64%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business's revenue was up 13.2% compared to the same quarter last year. On average, analysts predict that XPO, Inc. will post 5.44 EPS for the current fiscal year.

Analysts Set New Price Targets

XPO has been the subject of several recent analyst reports. Zacks Research raised XPO from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 4th. Evercore raised XPO from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $247.00 price target on shares of XPO in a research note on Thursday, July 30th. BMO Capital Markets raised their price objective on XPO from $240.00 to $245.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Finally, Stephens raised their price objective on XPO from $255.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $224.95.

Insider Buying and Selling

In other XPO news, CAO Christopher Brown sold 3,750 shares of XPO stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the transaction, the chief accounting officer owned 31,005 shares of the company's stock, valued at $6,261,149.70. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.87% of the company's stock.

About XPO

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company's operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.

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