Xerox (NYSE:XRX) Earns Neutral Rating from Analysts at Citigroup

Key Points

• Xerox has received a "neutral" rating from Citigroup, with a price target of $4.50, indicating a potential upside of approximately 11.94% from its current price.
• The company's recent quarterly earnings showed a loss of ($0.64) per share, missing consensus estimates significantly, as revenue was down 0.1% compared to the same quarter last year.
• Insider purchases have been notable, with CEO Steven John Bandrowczak acquiring 22,300 shares recently, increasing his holdings in Xerox and signaling confidence in the company's future.

Equities research analysts at Citigroup began coverage on shares of Xerox (NYSE:XRX - Get Free Report) in a note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $4.50 price target on the information technology services provider's stock. Citigroup's target price would suggest a potential upside of 16.88% from the company's current price.

Xerox Price Performance

Shares of NYSE:XRX traded up $0.16 during trading on Monday, reaching $3.85. The company had a trading volume of 4,876,671 shares, compared to its average volume of 4,086,003. The firm's fifty day moving average is $4.96 and its 200 day moving average is $5.34. The firm has a market capitalization of $484.44 million, a PE ratio of -0.36 and a beta of 1.79. Xerox has a twelve month low of $3.44 and a twelve month high of $11.42. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Xerox will post 1.07 EPS for the current year.

Insider Buying and Selling

In other Xerox news, Director A. Scott Letier bought 29,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $3.95 per share, with a total value of $116,920.00. Following the completion of the purchase, the director directly owned 58,984 shares in the company, valued at approximately $232,986.80. This trade represents a 100.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Xerox

Several institutional investors and hedge funds have recently added to or reduced their stakes in XRX. Federated Hermes Inc. lifted its stake in Xerox by 2,035.4% during the first quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock valued at $17,784,000 after purchasing an additional 3,509,574 shares during the last quarter. Marshall Wace LLP lifted its stake in Xerox by 71.0% during the second quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider's stock valued at $20,703,000 after purchasing an additional 1,630,999 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Xerox by 2,392.4% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock valued at $6,019,000 after purchasing an additional 1,196,200 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Xerox by 2,846.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock valued at $9,517,000 after purchasing an additional 1,090,661 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in shares of Xerox during the second quarter valued at approximately $5,513,000. 85.36% of the stock is owned by institutional investors and hedge funds.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.