XPO (NYSE:XPO) Trading Down 7.9% - Here's What Happened

Key Points

• Shares of XPO fell 7.9% on Friday to $189.83, with intraday volume of 676,817 shares—about a 64% decline versus the average session volume.
• Analyst consensus is a “Moderate Buy” with an average price target of $181.57, though opinions vary widely (from Morgan Stanley’s $95 underweight to BMO’s $230 target).
• XPO recently beat quarterly estimates—$0.88 EPS vs. $0.76 expected and $2.01B revenue vs. $1.95B—and trades at a P/E of ~71.8 with roughly 97.7% institutional ownership.

Shares of XPO, Inc. (NYSE:XPO - Get Free Report) fell 7.9% during trading on Friday . The stock traded as low as $189.83 and last traded at $189.83. 676,817 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,905,551 shares. The stock had previously closed at $206.21.

Analyst Ratings Changes

XPO has been the topic of a number of recent research reports. Morgan Stanley restated an "underweight" rating and set a $95.00 price target on shares of XPO in a report on Thursday, February 5th. BMO Capital Markets set a $230.00 target price on shares of XPO in a research report on Thursday, February 19th. Wells Fargo & Company boosted their price target on XPO from $147.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Truist Financial increased their price objective on XPO from $160.00 to $200.00 and gave the company a "buy" rating in a report on Friday, February 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of XPO in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $181.57.

XPO Trading Down 7.8%

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 71.77, a P/E/G ratio of 2.78 and a beta of 1.94. The company has a 50-day moving average price of $171.48 and a 200-day moving average price of $147.26.

XPO (NYSE:XPO - Get Free Report) last announced its earnings results on Thursday, February 5th. The transportation company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. XPO had a return on equity of 25.07% and a net margin of 3.87%.The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. Research analysts predict that XPO, Inc. will post 4.15 EPS for the current fiscal year.

Institutional Trading of XPO

A number of hedge funds have recently bought and sold shares of XPO. Forge First Asset Management Inc. bought a new stake in shares of XPO during the second quarter valued at approximately $6,079,000. Allspring Global Investments Holdings LLC lifted its position in XPO by 86.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 86,726 shares of the transportation company's stock worth $11,008,000 after purchasing an additional 40,235 shares during the period. Cooke & Bieler LP boosted its stake in XPO by 9.0% during the third quarter. Cooke & Bieler LP now owns 933,745 shares of the transportation company's stock worth $120,705,000 after buying an additional 76,847 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in XPO by 67.2% in the 3rd quarter. Gateway Investment Advisers LLC now owns 18,431 shares of the transportation company's stock valued at $2,383,000 after buying an additional 7,406 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of XPO in the 2nd quarter valued at $47,437,000. 97.73% of the stock is owned by institutional investors.

About XPO

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company's operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.

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