Xerox (NYSE:XRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other research analysts have also commented on the stock. Citigroup decreased their price target on shares of Xerox from $15.00 to $10.00 and set a sell rating on the stock in a research note on Wednesday, October 26th. Loop Capital upped their target price on Xerox from $15.00 to $17.00 in a research report on Monday, January 30th. Credit Suisse Group dropped their price target on Xerox from $14.00 to $13.00 and set an underperform rating for the company in a report on Tuesday, October 18th. Finally, Morgan Stanley decreased their price objective on Xerox from $14.00 to $11.00 and set an underweight rating on the stock in a report on Monday, October 17th. Four investment analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Reduce and a consensus price target of $13.00.

Xerox Price Performance

Shares of NYSE XRX opened at $16.96 on Tuesday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -7.82 and a beta of 1.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 0.99. The business has a 50-day moving average of $15.96 and a 200-day moving average of $15.89. Xerox has a fifty-two week low of $11.80 and a fifty-two week high of $23.25.

Xerox (NYSE:XRX – Get Rating) last issued its earnings results on Thursday, January 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.35. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Xerox had a negative net margin of 4.53% and a positive return on equity of 5.15%. Xerox’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. As a group, sell-side analysts predict that Xerox will post 1.21 earnings per share for the current fiscal year.

Insider Transactions at Xerox

In related news, Director Hernandez Margarita Palau purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were bought at an average cost of $15.55 per share, with a total value of $155,500.00. Following the acquisition, the director now owns 15,500 shares of the company’s stock, valued at approximately $241,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Xerox

A number of institutional investors and hedge funds have recently bought and sold shares of XRX. JPMorgan Chase & Co. increased its stake in shares of Xerox by 20.2% in the first quarter. JPMorgan Chase & Co. now owns 560,997 shares of the information technology services provider’s stock valued at $11,315,000 after buying an additional 94,090 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Xerox during the first quarter worth $604,000. American Century Companies Inc. grew its holdings in Xerox by 14.5% during the 1st quarter. American Century Companies Inc. now owns 28,887 shares of the information technology services provider’s stock worth $582,000 after acquiring an additional 3,654 shares during the period. US Bancorp DE raised its position in shares of Xerox by 24.4% in the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock worth $167,000 after acquiring an additional 1,615 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Xerox by 12.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,121 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 1,807 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

About Xerox

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.