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Xerox (NYSE:XRX) Trading Down 4.3% - What's Next?

Xerox logo with Industrial Products background

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares were down 4.3% on Wednesday . The stock traded as low as $8.83 and last traded at $8.76. Approximately 203,364 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 2,376,585 shares. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XRX shares. Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Xerox from a "hold" rating to a "buy" rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Xerox has a consensus rating of "Hold" and an average price target of $9.50.

Read Our Latest Research Report on XRX

Xerox Stock Performance

The firm has a market capitalization of $1.06 billion, a PE ratio of 8.98 and a beta of 1.59. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.95. The stock has a 50-day moving average price of $8.93 and a 200-day moving average price of $9.71.

Institutional Trading of Xerox

A number of hedge funds have recently made changes to their positions in XRX. Gladius Capital Management LP bought a new position in Xerox during the 3rd quarter valued at $29,000. US Bancorp DE raised its stake in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock valued at $66,000 after purchasing an additional 1,888 shares in the last quarter. KBC Group NV lifted its position in shares of Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after purchasing an additional 4,224 shares during the last quarter. Vest Financial LLC acquired a new position in Xerox in the fourth quarter worth about $97,000. Finally, Prism Advisors Inc. bought a new stake in Xerox in the fourth quarter valued at about $103,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Company Profile

(Get Free Report)

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.

See Also

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