Bank of America Boosts XPO (NYSE:XPO) Price Target to $246.00

XPO (NYSE:XPO) had its price objective upped by equities researchers at Bank of America from $244.00 to $246.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 12.35% from the company’s current price.

Several other brokerages also recently issued reports on XPO. Wells Fargo & Company raised their target price on shares of XPO from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. BMO Capital Markets set a $230.00 target price on shares of XPO in a research note on Thursday, February 19th. Oppenheimer raised their target price on shares of XPO from $228.00 to $236.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Susquehanna raised their target price on shares of XPO from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of XPO in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, XPO presently has an average rating of “Moderate Buy” and a consensus price target of $215.52.

XPO Trading Up 0.9%

Shares of NYSE:XPO opened at $218.96 on Thursday. XPO has a 52-week low of $112.93 and a 52-week high of $231.46. The company has a market capitalization of $25.71 billion, a P/E ratio of 74.98, a price-to-earnings-growth ratio of 2.54 and a beta of 1.83. The company has a 50-day simple moving average of $208.69 and a 200 day simple moving average of $179.25. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.

XPO (NYSE:XPO) last issued its earnings results on Thursday, April 30th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. XPO had a net margin of 4.19% and a return on equity of 26.21%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the business posted $0.73 EPS. XPO’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that XPO will post 4.84 earnings per share for the current year.

Insider Transactions at XPO

In other XPO news, Director Allison Landry sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of the sale, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On XPO

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in XPO by 13.2% in the first quarter. Parallel Advisors LLC now owns 421 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 49 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in XPO by 13.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 494 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 60 shares in the last quarter. V Square Quantitative Management LLC increased its stake in XPO by 19.1% in the first quarter. V Square Quantitative Management LLC now owns 374 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 60 shares in the last quarter. UMB Bank n.a. increased its stake in XPO by 4.4% in the fourth quarter. UMB Bank n.a. now owns 1,483 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 63 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in XPO by 21.1% in the first quarter. Root Financial Partners LLC now owns 362 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 63 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Company Profile

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.