XPO (NYSE:XPO) Board of Directors Initiates Stock Buyback Program

XPO (NYSE:XPO) announced that its board has authorized a stock buyback plan on Thursday, March 27th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to buy up to 5.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

XPO Stock Down 5.2 %

NYSE:XPO opened at $107.36 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08. XPO has a twelve month low of $97.03 and a twelve month high of $161.00. The company has a market cap of $12.59 billion, a PE ratio of 33.24, a P/E/G ratio of 1.79 and a beta of 2.13. The company’s 50 day moving average is $125.98 and its two-hundred day moving average is $129.57.

XPO (NYSE:XPO) last announced its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. Analysts anticipate that XPO will post 4.15 EPS for the current year.

Analysts Set New Price Targets

XPO has been the topic of several research analyst reports. Bank of America dropped their price objective on XPO from $150.00 to $131.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark increased their price target on XPO from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group lifted their price objective on XPO from $150.00 to $167.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lowered their price objective on shares of XPO from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Oppenheimer raised their target price on shares of XPO from $148.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat, XPO presently has an average rating of “Buy” and a consensus target price of $155.37.

Insider Buying and Selling at XPO

In other XPO news, COO David J. Bates acquired 1,880 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the purchase, the chief operating officer now owns 21,106 shares in the company, valued at approximately $2,240,612.96. The trade was a 9.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.