Xerox (NASDAQ:XRX) Now Covered by Analysts at Noble Financial

Noble Financial began coverage on shares of Xerox (NASDAQ:XRX) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $5.00 price target on the information technology services provider’s stock. Noble Financial’s price target would suggest a potential upside of 65.84% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a report on Friday, July 24th. Citigroup reiterated a “neutral” rating and issued a $3.45 price objective (up from $2.50) on shares of Xerox in a report on Friday, July 31st. Finally, Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.22.

Xerox Stock Performance

NASDAQ:XRX traded up $0.07 on Tuesday, hitting $3.02. The company’s stock had a trading volume of 296,774 shares, compared to its average volume of 4,727,395. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 12.58. The stock has a fifty day moving average of $3.01 and a two-hundred day moving average of $2.37. The firm has a market capitalization of $395.93 million, a P/E ratio of -0.41 and a beta of 2.40. Xerox has a one year low of $1.19 and a one year high of $4.27.

Xerox (NASDAQ:XRX) last released its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.32. Xerox had a positive return on equity of 17.61% and a negative net margin of 11.93%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm posted ($0.64) earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. Research analysts predict that Xerox will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. S Harris Financial Group LLC acquired a new stake in shares of Xerox during the fourth quarter worth $25,000. Chicago Partners Investment Group LLC acquired a new position in shares of Xerox in the first quarter valued at about $25,000. Captrust Financial Advisors bought a new position in Xerox during the fourth quarter worth about $26,000. Williams & Novak LLC bought a new position in Xerox during the fourth quarter worth about $27,000. Finally, Arkadios Wealth Advisors acquired a new stake in Xerox in the 4th quarter worth about $35,000. Institutional investors own 85.36% of the company’s stock.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.