Truist Financial Forecasts Strong Price Appreciation for XPO (NYSE:XPO) Stock

XPO (NYSE:XPO) had its price objective boosted by analysts at Truist Financial from $125.00 to $135.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Truist Financial’s price target suggests a potential upside of 4.20% from the company’s current price.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of XPO in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on XPO in a research note on Friday, March 7th. They issued a “buy” rating and a $156.00 price objective on the stock. Stephens reissued an “overweight” rating and set a $131.00 target price on shares of XPO in a research report on Thursday, June 5th. JPMorgan Chase & Co. lowered their price target on shares of XPO from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, Oppenheimer reduced their price objective on shares of XPO from $142.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Nineteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, XPO has a consensus rating of “Buy” and a consensus target price of $134.89.

XPO Stock Up 2.6%

Shares of NYSE XPO opened at $129.56 on Monday. The company has a 50 day simple moving average of $117.24 and a 200 day simple moving average of $121.32. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.02 and a quick ratio of 1.02. XPO has a 1 year low of $85.06 and a 1 year high of $161.00. The firm has a market cap of $15.26 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 2.40 and a beta of 1.93.

XPO (NYSE:XPO) last announced its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.98 billion. XPO had a net margin of 4.87% and a return on equity of 28.27%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. On average, research analysts forecast that XPO will post 4.15 EPS for the current year.

XPO announced that its board has authorized a stock repurchase plan on Thursday, March 27th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On XPO

A number of institutional investors and hedge funds have recently made changes to their positions in XPO. LPL Financial LLC increased its position in XPO by 57.3% in the 4th quarter. LPL Financial LLC now owns 74,250 shares of the transportation company’s stock valued at $9,738,000 after buying an additional 27,034 shares in the last quarter. Renaissance Technologies LLC grew its stake in XPO by 40.0% in the fourth quarter. Renaissance Technologies LLC now owns 237,420 shares of the transportation company’s stock valued at $31,138,000 after acquiring an additional 67,800 shares during the period. Natixis Advisors LLC increased its holdings in shares of XPO by 42.8% during the fourth quarter. Natixis Advisors LLC now owns 61,414 shares of the transportation company’s stock valued at $8,054,000 after acquiring an additional 18,398 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of XPO during the first quarter worth approximately $247,000. Finally, Invesco Ltd. raised its position in shares of XPO by 29.6% during the fourth quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company’s stock worth $244,369,000 after purchasing an additional 425,678 shares during the period. Institutional investors own 97.73% 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.