XPO (NYSE:XPO) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• XPO shares crossed above their 50-day moving average, reaching $188.66 and last trading near $187.89, while remaining below the 200-day average of $195.59.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $222.64; recent ratings included upgrades and target-price revisions.
• XPO exceeded quarterly expectations, reporting $1.70 in earnings per share versus a $1.48 estimate and $2.35 billion in revenue, up 13.2% year over year. Institutional investors own 97.73% of the company, while insiders sold approximately $2.2 million in shares during the last quarter.

XPO, Inc. (NYSE:XPO - Get Free Report)'s stock price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $184.70 and traded as high as $188.66. XPO shares last traded at $187.8870, with a volume of 720,424 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore upgraded XPO from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. Susquehanna cut their price objective on XPO from $225.00 to $194.00 and set a "neutral" rating for the company in a research report on Friday, October 2nd. Citizens Jmp assumed coverage on XPO in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Truist Financial reduced their price objective on XPO from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Finally, Oppenheimer increased their target price on XPO from $236.00 to $238.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $222.64.

XPO Price Performance

The stock's 50 day simple moving average is $184.70 and its two-hundred day simple moving average is $195.59. The company has a market capitalization of $22.00 billion, a P/E ratio of 55.42 and a beta of 1.85.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.48 by $0.22. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. XPO's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. As a group, equities research analysts expect that XPO, Inc. will post 5.47 earnings per share for the current year.

Insider Buying and Selling

In other XPO news, COO David Bates sold 2,615 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $179.41, for a total transaction of $469,157.15. Following the transaction, the chief operating officer owned 64,735 shares of the company's stock, valued at approximately $11,614,106.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Wismans sold 750 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $175.47, for a total value of $131,602.50. Following the transaction, the chief financial officer directly owned 47,966 shares in the company, valued at approximately $8,416,594.02. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,730 shares of company stock worth $2,208,974 in the last quarter. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On XPO

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in XPO in the second quarter worth about $2,985,276,000. MFN Partners Management LP bought a new stake in XPO during the 2nd quarter worth about $2,026,148,865. Bessemer Group Inc. raised its holdings in XPO by 115.9% during the 1st quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company's stock worth $470,986,000 after purchasing an additional 1,299,480 shares during the last quarter. Findlay Park Partners LLP acquired a new position in XPO during the 2nd quarter valued at about $236,104,000. Finally, Bank of New York Mellon Corp acquired a new position in XPO during the 2nd quarter valued at about $151,798,000. Institutional investors own 97.73% of the company's stock.

XPO Company Profile

XPO, Inc is a transportation and logistics company that provides freight-moving services to businesses across North America and Europe. Its operations are centered on less-than-truckload (LTL) transportation, which involves consolidating shipments from multiple customers onto a single truck and is commonly used for freight that does not require a full trailer.

In North America, XPO provides regional, interregional and national LTL services, along with related offerings such as freight pickup and delivery, shipment visibility and technology-enabled transportation management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.