StockNews.com downgraded shares of Xerox (NYSE:XRX - Free Report) from a buy rating to a hold rating in a report issued on Wednesday morning.
A number of other analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $9.50.
View Our Latest Analysis on Xerox
Xerox Price Performance
Shares of NYSE:XRX traded down $0.54 during midday trading on Wednesday, reaching $7.85. 4,342,607 shares of the company's stock were exchanged, compared to its average volume of 2,343,777. The firm has a market capitalization of $976.30 million, a PE ratio of -0.73 and a beta of 1.59. The company's 50 day simple moving average is $8.85 and its two-hundred day simple moving average is $9.58. Xerox has a 12 month low of $7.81 and a 12 month high of $19.48. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.
Hedge Funds Weigh In On Xerox
A number of institutional investors and hedge funds have recently bought and sold shares of XRX. Wealthfront Advisers LLC bought a new position in shares of Xerox in the fourth quarter valued at about $236,000. Marathon Trading Investment Management LLC bought a new position in shares of Xerox in the fourth quarter worth about $84,000. AlphaQuest LLC lifted its position in shares of Xerox by 25.9% during the fourth quarter. AlphaQuest LLC now owns 23,718 shares of the information technology services provider's stock worth $200,000 after purchasing an additional 4,882 shares in the last quarter. Amundi grew its stake in shares of Xerox by 175.6% during the fourth quarter. Amundi now owns 56,099 shares of the information technology services provider's stock valued at $500,000 after purchasing an additional 35,745 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Xerox in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 85.36% of the company's stock.
Xerox Company Profile
(
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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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