Oppenheimer Trims XPO Logistics (NYSE:XPO) Target Price to $45.00

XPO Logistics (NYSE:XPOGet Rating) had its price objective cut by Oppenheimer from $87.00 to $45.00 in a research note released on Tuesday, The Fly reports. Oppenheimer also issued estimates for XPO Logistics’ Q2 2023 earnings at $1.00 EPS and Q3 2023 earnings at $0.82 EPS.

Several other analysts have also recently weighed in on the company. Jefferies Financial Group initiated coverage on XPO Logistics in a research report on Monday, October 24th. They set a buy rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on XPO Logistics from $77.00 to $74.00 and set an overweight rating for the company in a research report on Tuesday, November 1st. Cowen cut their price objective on shares of XPO Logistics from $87.00 to $59.00 and set an outperform rating on the stock in a research report on Wednesday, October 19th. Deutsche Bank Aktiengesellschaft lowered shares of XPO Logistics from a buy rating to a hold rating and lowered their target price for the stock from $78.00 to $50.00 in a report on Monday, October 17th. Finally, Credit Suisse Group cut their price target on shares of XPO Logistics from $67.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, October 20th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $71.91.

XPO Logistics Stock Up 0.7 %

XPO Logistics stock opened at $37.60 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50 day moving average price of $43.34 and a two-hundred day moving average price of $49.25. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 0.57 and a beta of 2.04. XPO Logistics has a 52-week low of $30.54 and a 52-week high of $81.01.

XPO Logistics (NYSE:XPOGet Rating) last posted its earnings results on Monday, October 31st. The transportation company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. XPO Logistics had a net margin of 6.73% and a return on equity of 43.47%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company posted $0.94 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities analysts predict that XPO Logistics will post 5.73 EPS for the current year.

Hedge Funds Weigh In On XPO Logistics

A number of large investors have recently made changes to their positions in XPO. Signaturefd LLC grew its stake in XPO Logistics by 6,319.0% during the 1st quarter. Signaturefd LLC now owns 1,348 shares of the transportation company’s stock worth $98,000 after buying an additional 1,327 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of XPO Logistics during the first quarter valued at about $447,000. Janney Capital Management LLC raised its position in shares of XPO Logistics by 3.1% in the 1st quarter. Janney Capital Management LLC now owns 6,142 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 183 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in XPO Logistics by 14.1% during the 1st quarter. Thoroughbred Financial Services LLC now owns 4,037 shares of the transportation company’s stock worth $293,000 after purchasing an additional 500 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in XPO Logistics by 1.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 24,393 shares of the transportation company’s stock valued at $1,775,000 after purchasing an additional 435 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

About XPO Logistics

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XPO Logistics, 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 Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services.

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