Cowen and Company Raises XPO Logistics, Inc. (XPO) Price Target to $85.00
XPO Logistics, Inc. (NYSE:XPO) had its price target hoisted by equities researchers at Cowen and Company from $69.00 to $85.00 in a research note issued on Friday. The brokerage currently has a “strong-buy” rating on the transportation company’s stock. Cowen and Company’s price objective indicates a potential upside of 18.78% from the company’s current price.
XPO has been the topic of a number of other research reports. Zacks Investment Research upgraded XPO Logistics from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, July 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $78.00 price target (up previously from $65.00) on shares of XPO Logistics in a research report on Tuesday, July 11th. BidaskClub downgraded XPO Logistics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Credit Suisse Group boosted their price objective on XPO Logistics from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. Finally, KeyCorp reissued a “buy” rating and issued a $75.00 price objective on shares of XPO Logistics in a research note on Thursday, October 12th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $71.13.
XPO Logistics (NYSE:XPO) last released its quarterly earnings results on Wednesday, November 1st. The transportation company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. XPO Logistics had a return on equity of 7.34% and a net margin of 1.11%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue was up 4.7% on a year-over-year basis.
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Several institutional investors have recently modified their holdings of XPO. Envestnet Asset Management Inc. grew its holdings in shares of XPO Logistics by 461.3% in the first quarter. Envestnet Asset Management Inc. now owns 2,425 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 1,993 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of XPO Logistics by 18.4% in the second quarter. Advisors Asset Management Inc. now owns 2,992 shares of the transportation company’s stock valued at $193,000 after acquiring an additional 466 shares in the last quarter. Argent Trust Co bought a new position in shares of XPO Logistics in the second quarter valued at approximately $205,000. Boston Advisors LLC bought a new position in shares of XPO Logistics in the second quarter valued at approximately $212,000. Finally, HighTower Advisors LLC bought a new position in shares of XPO Logistics in the first quarter valued at approximately $214,000. 90.14% of the stock is owned by hedge funds and other institutional investors.
About XPO Logistics
XPO Logistics, Inc is a global provider of supply chain solutions. The Company operates in two segments: Transportation and Logistics. The Transportation segment provides freight brokerage, last mile, less-than-truckload (LTL), full truckload and global forwarding services. The Logistics segment provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution, cold chain solutions and other inventory solutions.
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