Xerox (NYSE:XRX) Cut to "Hold" at StockNews.com

Xerox (NYSE:XRX - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued research reports about the company. Loop Capital lowered their target price on Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Morgan Stanley decreased their price target on shares of Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $9.50.

Xerox Trading Up 1.5 %

XRX traded up $0.12 during mid-day trading on Friday, hitting $8.29. The stock had a trading volume of 4,041,731 shares, compared to its average volume of 2,214,783. The stock's fifty day simple moving average is $10.27 and its 200-day simple moving average is $11.79. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -0.75 and a beta of 1.57. Xerox has a 1-year low of $8.02 and a 1-year high of $19.78. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 1.13.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, research analysts forecast that Xerox will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Xerox

A number of large investors have recently added to or reduced their stakes in XRX. CWM LLC lifted its stake in shares of Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider's stock worth $26,000 after buying an additional 1,378 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Xerox during the first quarter worth approximately $45,000. US Bancorp DE boosted its holdings in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after acquiring an additional 1,888 shares during the period. nVerses Capital LLC acquired a new position in shares of Xerox in the second quarter valued at approximately $78,000. Finally, Plato Investment Management Ltd increased its stake in shares of Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider's stock worth $109,000 after purchasing an additional 2,899 shares during the period. Institutional investors own 85.36% of the company's stock.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.

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