Xerox Corporation (NYSE:XRX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other analysts have also commented on the stock. Morgan Stanley restated an “overweight” rating and set a $32.00 price target on shares of Xerox Corporation in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. Barclays PLC restated a “sell” rating and set a $27.00 price target on shares of Xerox Corporation in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Loop Capital started coverage on shares of Xerox Corporation in a research note on Monday, July 24th. They set a “buy” rating and a $36.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $37.23.

Shares of Xerox Corporation (XRX) traded up 0.90% during midday trading on Friday, hitting $32.56. 898,114 shares of the stock traded hands. The firm has a 50-day moving average price of $31.40 and a 200-day moving average price of $29.38. Xerox Corporation has a 52 week low of $24.86 and a 52 week high of $32.99. The stock’s market capitalization is $8.28 billion.

Xerox Corporation (NYSE:XRX) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. Xerox Corporation’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities analysts predict that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Xerox Corporation (XRX) Upgraded to “Buy” at ValuEngine” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://www.watchlistnews.com/xerox-corporation-xrx-upgraded-to-buy-at-valuengine/1536929.html.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock valued at $510,230,000 after buying an additional 65,914,755 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Xerox Corporation by 758.2% in the first quarter. Ameriprise Financial Inc. now owns 7,912,787 shares of the information technology services provider’s stock valued at $58,084,000 after buying an additional 6,990,756 shares during the last quarter. KBC Group NV raised its stake in Xerox Corporation by 163.4% in the first quarter. KBC Group NV now owns 6,901,550 shares of the information technology services provider’s stock valued at $50,658,000 after buying an additional 4,281,339 shares during the last quarter. Gotham Asset Management LLC raised its stake in Xerox Corporation by 2,304.7% in the first quarter. Gotham Asset Management LLC now owns 3,606,346 shares of the information technology services provider’s stock valued at $26,471,000 after buying an additional 3,456,374 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Xerox Corporation by 25.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock valued at $122,775,000 after buying an additional 3,341,049 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

About Xerox Corporation

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

Analyst Recommendations for Xerox Corporation (NYSE:XRX)

Receive News & Ratings for Xerox Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.