XPO (NYSE:XPO) Shares Break Above 50-Day Moving Average - Here's What Happened

Key Points

• XPO shares rose above their 50-day moving average of $182.93, reaching $188.64 and last trading at $187.84.
• Analysts’ average price target is $221.45, with a consensus “Moderate Buy” rating, although UBS and Truist recently lowered their targets.
• XPO beat quarterly earnings expectations with EPS of $1.70 versus $1.58 expected, while revenue of $2.37 billion came in slightly below forecasts; revenue increased 12.4% year over year.

XPO, Inc. (NYSE:XPO - Get Free Report) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $182.93 and traded as high as $188.64. XPO shares last traded at $187.84, with a volume of 1,103,658 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on XPO shares. UBS Group decreased their target price on shares of XPO from $257.00 to $232.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Truist Financial reduced their price target on XPO from $240.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. Susquehanna reduced their price target on XPO from $225.00 to $194.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. Stifel Nicolaus set a $235.00 price objective on XPO in a research note on Friday, October 30th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective on shares of XPO in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.45.

XPO Price Performance

The company has a fifty day simple moving average of $182.93 and a 200 day simple moving average of $197.24. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 44.30, a P/E/G ratio of 1.72 and a beta of 1.87. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.99 and a current ratio of 0.99.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The transportation company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.38 billion. XPO had a return on equity of 32.80% and a net margin of 5.69%. The business's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Equities research analysts forecast that XPO, Inc. will post 5.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO David J. Bates sold 2,615 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $194.08, for a total value of $507,519.20. Following the transaction, the chief operating officer owned 59,505 shares in the company, valued at approximately $11,548,730.40. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Wismans sold 750 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $191.62, for a total transaction of $143,715.00. Following the completion of the transaction, the chief financial officer owned 47,216 shares in the company, valued at $9,047,529.92. This trade represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,095 shares of company stock valued at $1,851,171 in the last three months. Insiders own 0.87% of the company's stock.

Institutional Trading of XPO

A number of institutional investors have recently bought and sold shares of XPO. BlackRock Inc. acquired a new position in shares of XPO in the 2nd quarter valued at about $2,985,276,000. MFN Partners Management LP bought a new position in shares of XPO in the second quarter valued at approximately $2,026,148,865. Bessemer Group Inc. boosted 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 acquiring an additional 1,299,480 shares during the last quarter. Findlay Park Partners LLP bought a new stake in XPO in the 2nd quarter worth about $236,104,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of XPO in the 2nd quarter worth approximately $151,798,000. Institutional investors own 97.73% of the company's stock.

XPO Company Profile

XPO Inc is a transportation company focused on less-than-truckload (LTL) shipping in North America. Its network combines freight from multiple customers into shared truckloads, serving businesses that need to ship goods too large for parcel delivery but not large enough to fill an entire trailer.

The company provides pickup and delivery, linehaul transportation between service centers, and related freight-handling services. Its operations primarily serve customers in the United States, with cross-border coverage in Canada and Mexico.

XPO traces its modern corporate history to 2011, when it began acquiring transportation and logistics businesses under the name XPO Logistics.

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