Wells Fargo & Company Cuts XPO (NYSE:XPO) Price Target to $130.00

XPO (NYSE:XPO) had its price target reduced by investment analysts at Wells Fargo & Company from $170.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.17% from the stock’s current price.

A number of other brokerages have also issued reports on XPO. Bank of America lowered their price target on XPO from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Benchmark upped their price objective on XPO from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays lowered their price objective on shares of XPO from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Truist Financial initiated coverage on shares of XPO in a research note on Thursday, March 13th. They issued a “buy” rating and a $130.00 price target for the company. Finally, Raymond James decreased their target price on XPO from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Nineteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, XPO has a consensus rating of “Buy” and an average target price of $156.37.

XPO Stock Performance

Shares of XPO stock opened at $110.95 on Thursday. The company has a market capitalization of $13.01 billion, a P/E ratio of 34.35, a P/E/G ratio of 1.79 and a beta of 2.13. XPO has a 12-month low of $97.03 and a 12-month high of $161.00. The business’s 50 day moving average is $127.10 and its two-hundred day moving average is $129.65. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO) last issued its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. Analysts expect that XPO will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO David J. Bates acquired 1,880 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $106.16 per share, for a total transaction of $199,580.80. Following the transaction, the chief operating officer now owns 21,106 shares in the company, valued at $2,240,612.96. This represents a 9.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On XPO

A number of hedge funds have recently added to or reduced their stakes in XPO. Versant Capital Management Inc acquired a new stake in shares of XPO in the 4th quarter valued at approximately $29,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of XPO during the 4th quarter worth $42,000. Cullen Frost Bankers Inc. grew its stake in shares of XPO by 69.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock worth $42,000 after purchasing an additional 130 shares during the period. Larson Financial Group LLC increased its holdings in shares of XPO by 25.6% in the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 76 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of XPO in the third quarter valued at about $57,000. Institutional investors and hedge funds own 97.73% of the company’s stock.

XPO Company Profile

XPO, 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 European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.