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

XPO, Inc. (NYSE:XPO - Get Free Report)'s stock price gapped up prior to trading 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 changing hands.

XPO has been the subject of a number of other research reports. Barclays lifted their price target on XPO from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. UBS Group lifted their price target on XPO from $108.00 to $123.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus cut their price objective on XPO from $147.00 to $142.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Raymond James Financial cut their price objective on XPO from $165.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on XPO from $132.00 to $121.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $135.26.

Hedge Funds Weigh In On XPO

Several hedge funds have recently made changes to their positions in XPO. Capital Research Global Investors boosted its stake in shares of XPO by 18.5% during the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company's stock worth $1,789,171,000 after buying an additional 2,125,686 shares during the period. Vanguard Group Inc. boosted its stake in shares of XPO by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,034,926 shares of the transportation company's stock worth $1,447,231,000 after buying an additional 79,393 shares during the period. Capital World Investors boosted its stake in shares of XPO by 26.1% during the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company's stock worth $1,016,923,000 after buying an additional 1,605,001 shares during the period. FMR LLC boosted its stake in shares of XPO by 3.6% during the fourth quarter. FMR LLC now owns 2,606,265 shares of the transportation company's stock worth $341,812,000 after buying an additional 91,252 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of XPO by 17.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,073,352 shares of the transportation company's stock worth $223,052,000 after buying an additional 306,928 shares during the period. Hedge funds and other institutional investors own 97.73% of the company's stock.

XPO Stock 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 stock has a market cap of $14.23 billion, a price-to-earnings ratio of 37.19, a P/E/G ratio of 2.30 and a beta of 1.92. The stock's 50-day moving average is $111.69 and its 200 day moving average is $123.41.

XPO (NYSE:XPO - Get Free Report) last issued its earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. XPO had a net margin of 4.87% and a return on equity of 28.27%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period last year, the company posted $0.81 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

XPO declared that its Board of Directors has authorized a share buyback program on Thursday, March 27th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

XPO Company Profile

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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