XPO (NYSE:XPO) Shares Gap Up on Strong Earnings

XPO, Inc. (NYSE:XPO) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $108.92, but opened at $122.00. XPO shares last traded at $118.19, with a volume of 1,075,753 shares.

The transportation company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. XPO had a net margin of 2.44% and a return on equity of 29.85%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s revenue was up 5.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America boosted their target price on XPO from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Susquehanna raised their target price on XPO from $100.00 to $140.00 and gave the stock a “positive” rating in a research note on Thursday, February 8th. TD Cowen boosted their price target on shares of XPO from $129.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Raymond James raised their price objective on shares of XPO from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group increased their price target on shares of XPO from $98.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.65.

Hedge Funds Weigh In On XPO

Several large investors have recently made changes to their positions in the company. Flputnam Investment Management Co. raised its stake in shares of XPO by 1.9% in the 3rd quarter. Flputnam Investment Management Co. now owns 7,773 shares of the transportation company’s stock valued at $580,000 after purchasing an additional 145 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in XPO by 1.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,006 shares of the transportation company’s stock valued at $1,046,000 after buying an additional 160 shares during the last quarter. CWM LLC lifted its stake in XPO by 25.2% in the 4th quarter. CWM LLC now owns 796 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 160 shares in the last quarter. M&T Bank Corp boosted its position in XPO by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,469 shares of the transportation company’s stock worth $408,000 after acquiring an additional 165 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of XPO by 20.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the transportation company’s stock worth $75,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company’s stock.

XPO Stock Up 3.3 %

The stock’s fifty day moving average price is $120.80 and its 200-day moving average price is $100.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 69.91, a P/E/G ratio of 2.62 and a beta of 2.17.

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.