XP (NASDAQ:XP) Price Target Lowered to $25.00 at UBS Group

XP (NASDAQ:XP) had its price objective reduced by equities research analysts at UBS Group from $28.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 60.10% from the company’s current price.

A number of other analysts have also recently weighed in on XP. Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings upgraded XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.80.

XP Price Performance

Shares of XP stock traded down $0.59 during mid-day trading on Wednesday, hitting $15.62. 4,619,480 shares of the stock traded hands, compared to its average volume of 6,239,215. XP has a twelve month low of $15.52 and a twelve month high of $23.13. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. The company’s 50-day simple moving average is $18.77 and its 200-day simple moving average is $18.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.66 and a current ratio of 6.66.

XP declared that its board has authorized a share buyback plan on Tuesday, May 19th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On XP

Hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP lifted its position in XP by 119.2% during the fourth quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company’s stock worth $325,764,000 after acquiring an additional 10,820,050 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in XP in the second quarter valued at approximately $161,639,000. Schroder Investment Management Group increased its stake in XP by 74.4% in the third quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company’s stock valued at $230,895,000 after acquiring an additional 5,240,306 shares during the last quarter. Norges Bank bought a new stake in shares of XP during the fourth quarter worth $80,196,000. Finally, AQR Capital Management LLC grew its stake in shares of XP by 1,433.5% during the second quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock worth $67,391,000 after buying an additional 3,118,626 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.

XP Company Profile

XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.