Zacks Research Upgrades Xerox (NASDAQ:XRX) to “Hold”

Xerox (NASDAQ:XRX) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

XRX has been the subject of a number of other reports. Citigroup reiterated a “neutral” rating and issued a $2.50 price objective (down from $3.50) on shares of Xerox in a report on Friday. Weiss Ratings began coverage on Xerox in a research report on Wednesday, January 28th. They issued a “sell (d-)” rating for the company. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Xerox has a consensus rating of “Reduce” and a consensus target price of $2.50.

Xerox Price Performance

XRX opened at $2.17 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 8.94. Xerox has a 1 year low of $2.03 and a 1 year high of $8.57. The stock has a fifty day moving average price of $2.52 and a 200 day moving average price of $3.32. The stock has a market cap of $277.85 million, a price-to-earnings ratio of -0.26 and a beta of 1.72.

Xerox’s stock is set to split before the market opens on Monday, February 9th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Sunday, February 8th.

Xerox (NASDAQ:XRX) last posted its earnings results on Thursday, January 29th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.25). Xerox had a negative net margin of 14.65% and a negative return on equity of 8.26%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm earned $0.36 earnings per share. Xerox’s revenue was up 25.7% compared to the same quarter last year. Analysts forecast that Xerox will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Xerox

Large investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new stake in Xerox in the second quarter valued at $31,000. Levin Capital Strategies L.P. bought a new position in Xerox during the fourth quarter worth about $36,000. Socha Financial Group LLC acquired a new position in Xerox during the third quarter worth approximately $43,000. Boothbay Fund Management LLC bought a new stake in Xerox in the third quarter valued at approximately $43,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Xerox in the second quarter valued at approximately $44,000. Institutional investors and hedge funds 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.