Morgan Stanley Lowers XPO (NYSE:XPO) Price Target to $84.00

Key Points

• Morgan Stanley has reduced XPO's price target from $85.00 to $84.00, indicating a potential downside of 29.62% from its previous close.
• Despite varied ratings from other analysts, with some increasing their targets to as high as $145.00, the overall consensus remains a "Moderate Buy" with an average price target of $138.45.
• XPO's stock has seen a decline, trading down 0.8% to $119.35 on the day, with a market capitalization of $14.06 billion.

XPO (NYSE:XPO - Get Free Report) had its price target lowered by research analysts at Morgan Stanley from $85.00 to $84.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the transportation company's stock. Morgan Stanley's price target indicates a potential downside of 29.62% from the stock's previous close.

Several other equities research analysts have also recently weighed in on XPO. Benchmark upped their price target on XPO from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Citigroup raised XPO from a "neutral" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Friday. Truist Financial increased their price objective on XPO from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays raised their price objective on XPO from $135.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $140.00 price objective (up previously from $135.00) on shares of XPO in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.45.

XPO Stock Down 0.8%

Shares of NYSE XPO traded down $0.94 during midday trading on Friday, hitting $119.35. 471,626 shares of the stock traded hands, compared to its average volume of 1,630,581. The company has a market cap of $14.06 billion, a PE ratio of 36.74, a P/E/G ratio of 2.56 and a beta of 1.93. XPO has a one year low of $85.06 and a one year high of $161.00. The business has a 50 day moving average price of $125.48 and a two-hundred day moving average price of $120.49. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.02.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The transportation company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. XPO had a return on equity of 28.27% and a net margin of 4.87%. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period last year, the business earned $1.12 EPS. The business's revenue was up .0% on a year-over-year basis. On average, equities analysts predict that XPO will post 4.15 EPS for the current year.

Institutional Investors Weigh In On XPO

A number of institutional investors have recently modified their holdings of the company. SouthState Corp purchased a new stake in XPO during the 1st quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after buying an additional 113 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in XPO during the 2nd quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in XPO during the 2nd quarter valued at $42,000. Finally, Parallel Advisors LLC grew its holdings in XPO by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock valued at $52,000 after buying an additional 180 shares during the last quarter. 97.73% of the stock is owned by institutional investors and hedge funds.

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.

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