XPO (NYSE:XPO) Share Price Crosses Above 50 Day Moving Average – What’s Next?

XPO, Inc. (NYSE:XPO) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $184.70 and traded as high as $188.66. XPO shares last traded at $187.8870, with a volume of 720,424 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of XPO in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $247.00 price objective on shares of XPO in a research note on Thursday, July 30th. Stephens lifted their target price on shares of XPO from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Sanford C. Bernstein assumed coverage on shares of XPO in a report on Thursday, September 10th. They set an “outperform” rating and a $244.00 target price for the company. Finally, Truist Financial dropped their target price on shares of XPO from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.64.

XPO Stock Performance

The stock has a market cap of $22.00 billion, a price-to-earnings ratio of 55.42 and a beta of 1.85. The business has a 50-day simple moving average of $184.70 and a two-hundred day simple moving average of $195.59.

XPO (NYSE:XPO) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. XPO’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. On average, analysts expect that XPO, Inc. will post 5.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Christopher Brown sold 3,750 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total value of $757,275.00. Following the completion of the transaction, the chief accounting officer owned 31,005 shares of the company’s stock, valued at approximately $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Wismans sold 750 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $175.47, for a total transaction of $131,602.50. Following the completion of the transaction, the chief financial officer directly owned 47,966 shares of the company’s stock, valued at approximately $8,416,594.02. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,730 shares of company stock worth $2,208,974. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On XPO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of XPO during the 2nd quarter worth about $2,985,276,000. MFN Partners Management LP bought a new position in shares of XPO in the 2nd quarter valued at about $2,026,148,865. Bessemer Group Inc. increased its position in shares of XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock valued at $470,986,000 after acquiring an additional 1,299,480 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in shares of XPO in the second quarter valued at about $236,104,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of XPO in the second quarter valued at about $151,798,000. 97.73% of the stock is owned by institutional investors.

About XPO

XPO, Inc is a transportation and logistics company that provides freight-moving services to businesses across North America and Europe. Its operations are centered on less-than-truckload (LTL) transportation, which involves consolidating shipments from multiple customers onto a single truck and is commonly used for freight that does not require a full trailer.

In North America, XPO provides regional, interregional and national LTL services, along with related offerings such as freight pickup and delivery, shipment visibility and technology-enabled transportation management.