XPO (NYSE:XPO) Shares Gap Up Following Analyst Upgrade

XPO, Inc. (NYSE:XPO - Get Free Report) gapped up before the market opened on Wednesday after Susquehanna raised their price target on the stock from $138.00 to $145.00. The stock had previously closed at $119.79, but opened at $123.96. Susquehanna currently has a positive rating on the stock. XPO shares last traded at $121.34, with a volume of 73,387 shares traded.

XPO has been the topic of several other reports. Raymond James Financial decreased their price objective on shares of XPO from $165.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of XPO from $132.00 to $121.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of XPO from $130.00 to $116.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group restated a "buy" rating and issued a $140.00 target price (up from $135.00) on shares of XPO in a report on Tuesday, June 10th. Finally, Vertical Research upgraded shares of XPO from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Thursday, March 6th. Nineteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, XPO currently has an average rating of "Buy" and an average price target of $135.26.

Institutional Trading of XPO

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC grew its position in XPO by 3.0% in the first quarter. Voya Investment Management LLC now owns 61,037 shares of the transportation company's stock valued at $6,566,000 after acquiring an additional 1,797 shares in the last quarter. Anderson Financial Strategies LLC grew its position in XPO by 35.1% in the first quarter. Anderson Financial Strategies LLC now owns 12,703 shares of the transportation company's stock valued at $1,367,000 after acquiring an additional 3,301 shares in the last quarter. Strs Ohio acquired a new stake in XPO in the first quarter valued at approximately $3,776,000. Geneos Wealth Management Inc. grew its position in XPO by 194.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,020 shares of the transportation company's stock valued at $325,000 after acquiring an additional 1,993 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in XPO by 0.5% in the first quarter. Intech Investment Management LLC now owns 67,766 shares of the transportation company's stock valued at $7,290,000 after acquiring an additional 324 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Price Performance

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50-day simple moving average is $113.00 and its 200-day simple moving average is $122.93. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.27 and a beta of 1.92.

XPO (NYSE:XPO - Get Free Report) last released its earnings results on Wednesday, April 30th. The transportation company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.98 billion. XPO had a return on equity of 28.27% and a net margin of 4.87%. The business's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. On average, equities research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current year.

XPO declared that its board has approved a stock buyback plan on Thursday, March 27th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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.