XPO (NYSE:XPO) Hits New 12-Month High - Here's What Happened

Shares of XPO, Inc. (NYSE:XPO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $134.82 and last traded at $132.82, with a volume of 530355 shares trading hands. The stock had previously closed at $120.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Susquehanna boosted their target price on shares of XPO from $145.00 to $160.00 and gave the stock a "positive" rating in a report on Wednesday, September 18th. Bank of America lowered their target price on shares of XPO from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. Stifel Nicolaus upped their price target on XPO from $125.00 to $126.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Stephens restated an "overweight" rating and set a $150.00 target price on shares of XPO in a research note on Thursday, September 5th. Finally, TD Cowen decreased their price target on XPO from $143.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, XPO presently has an average rating of "Moderate Buy" and an average target price of $130.41.

XPO Stock Performance

The firm's fifty day simple moving average is $112.16 and its 200 day simple moving average is $110.97. The company has a market capitalization of $15.60 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 1.93 and a beta of 2.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.00 and a quick ratio of 1.00.

XPO (NYSE:XPO - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.11. XPO had a return on equity of 32.49% and a net margin of 4.48%. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same period last year, the business earned $0.71 earnings per share. XPO's quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that XPO, Inc. will post 3.52 EPS for the current year.

Hedge Funds Weigh In On XPO

Several large investors have recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new position in XPO during the first quarter worth approximately $226,000. Allspring Global Investments Holdings LLC increased its holdings in XPO by 10.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,754 shares of the transportation company's stock worth $702,000 after acquiring an additional 554 shares in the last quarter. State of Michigan Retirement System lifted its holdings in XPO by 2.5% during the first quarter. State of Michigan Retirement System now owns 28,542 shares of the transportation company's stock valued at $3,483,000 after purchasing an additional 700 shares in the last quarter. Advisor Resource Council purchased a new position in XPO during the first quarter valued at $732,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of XPO during the first quarter worth about $272,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

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.