XPO (NYSE:XPO) Downgraded to "Neutral" Rating by Citigroup

Citigroup lowered shares of XPO (NYSE:XPO - Free Report) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat reports. Citigroup currently has $140.00 target price on the transportation company's stock, up from their prior target price of $137.00.

Other equities research analysts also recently issued research reports about the company. Barclays raised their price target on XPO from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Evercore ISI lifted their price objective on XPO from $115.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Oppenheimer lifted their price objective on XPO from $126.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday. Wells Fargo & Company lifted their price objective on XPO from $116.00 to $144.00 and gave the stock an "overweight" rating in a report on Monday. Finally, UBS Group lifted their price objective on XPO from $123.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $141.53.

XPO Price Performance

NYSE:XPO traded up $3.82 during trading hours on Wednesday, hitting $135.95. 366,011 shares of the company's stock traded hands, compared to its average volume of 1,688,528. The firm has a market cap of $16.02 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.54 and a beta of 1.93. XPO has a 52 week low of $85.06 and a 52 week high of $161.00. The business's fifty day simple moving average is $121.05 and its two-hundred day simple moving average is $120.80. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.03.

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

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

Institutional Trading of XPO

Large investors have recently bought and sold shares of the company. SouthState Corp bought a new stake in XPO during the 1st quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its position in XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of XPO by 25.6% in the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company's stock worth $49,000 after purchasing an additional 76 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of XPO by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock worth $52,000 after purchasing an additional 180 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in shares of XPO by 65.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock worth $57,000 after purchasing an additional 209 shares in the last quarter. 97.73% of the stock is owned by 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.