Citigroup Reaffirms Neutral Rating for XPO (NYSE:XPO)

XPO (NYSE:XPO - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at Citigroup in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $140.00 target price on the transportation company's stock, up from their prior target price of $137.00. Citigroup's price objective would suggest a potential upside of 5.80% from the stock's current price.

Several other equities research analysts also recently commented on XPO. Wells Fargo & Company lifted their target price on shares of XPO from $116.00 to $144.00 and gave the stock an "overweight" rating in a research report on Monday. TD Cowen dropped their price target on shares of XPO from $136.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Oppenheimer boosted their price target on shares of XPO from $126.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday. Truist Financial boosted their target price on shares of XPO from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $140.00 target price (up previously from $135.00) on shares of XPO in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, XPO has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

XPO Price Performance

Shares of XPO stock traded up $0.06 during midday trading on Wednesday, hitting $132.32. 55,757 shares of the company traded hands, compared to its average volume of 1,623,653. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 2.48 and a beta of 1.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.02. The firm's fifty day moving average price is $120.52 and its 200-day moving average price is $120.72. XPO has a 12 month low of $85.06 and a 12 month high of $161.00.

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

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

Hedge Funds Weigh In On XPO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of XPO by 46.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 351 shares of the transportation company's stock worth $44,000 after buying an additional 111 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of XPO by 24.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,347 shares of the transportation company's stock worth $296,000 after buying an additional 456 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of XPO by 3.0% in the 1st quarter. Voya Investment Management LLC now owns 61,037 shares of the transportation company's stock worth $6,566,000 after buying an additional 1,797 shares during the last quarter. Anderson Financial Strategies LLC boosted its holdings in shares of XPO by 35.1% in the 1st quarter. Anderson Financial Strategies LLC now owns 12,703 shares of the transportation company's stock worth $1,367,000 after buying an additional 3,301 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of XPO in the 1st quarter worth about $3,776,000. 97.73% of the stock is owned by hedge funds and other institutional investors.

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.