Xerox (NYSE:XRX) Sets New 1-Year Low - Here's What Happened

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.93 and last traded at $7.91, with a volume of 2136776 shares changing hands. The stock had previously closed at $8.39.

Analyst Upgrades and Downgrades

Several analysts have issued reports on XRX shares. Morgan Stanley dropped their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to data from MarketBeat.com, Xerox currently has an average rating of "Reduce" and a consensus price target of $9.50.

Xerox Price Performance

The company has a market cap of $1.01 billion, a P/E ratio of -0.75 and a beta of 1.59. The company has a fifty day moving average price of $8.82 and a two-hundred day moving average price of $9.54. 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its holdings in Xerox by 9.5% during the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider's stock worth $8,269,000 after purchasing an additional 69,183 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider's stock worth $17,850,000 after purchasing an additional 107,580 shares during the period. Sound Income Strategies LLC grew its holdings in Xerox by 6.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider's stock worth $9,296,000 after purchasing an additional 69,182 shares during the period. Geode Capital Management LLC grew its holdings in Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider's stock worth $29,161,000 after purchasing an additional 62,947 shares during the period. Finally, Royce & Associates LP grew its holdings in Xerox by 16.9% during the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider's stock worth $7,704,000 after purchasing an additional 107,127 shares during the period. Institutional investors own 85.36% of the company's stock.

About Xerox

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.