XPO (NYSE:XPO) Shares Gap Down Following Analyst Downgrade

XPO, Inc. (NYSE:XPO - Get Free Report)'s share price gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $130.00 to $125.00. The stock had previously closed at $103.72, but opened at $97.84. Truist Financial currently has a buy rating on the stock. XPO shares last traded at $96.66, with a volume of 506,981 shares changing hands.

Several other equities analysts have also recently issued reports on the company. UBS Group reduced their price objective on XPO from $170.00 to $108.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Susquehanna decreased their price objective on shares of XPO from $180.00 to $138.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Raymond James dropped their target price on shares of XPO from $165.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Oppenheimer reduced their price target on shares of XPO from $176.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Bank of America dropped their price objective on shares of XPO from $150.00 to $131.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $139.63.

Insider Buying and Selling

In related news, COO David J. Bates purchased 1,880 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $106.16 per share, with a total value of $199,580.80. Following the completion of the purchase, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. This trade represents a 9.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of XPO

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in XPO by 89.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after acquiring an additional 113 shares during the period. Versant Capital Management Inc acquired a new stake in XPO during the 4th quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC purchased a new position in XPO in the fourth quarter valued at approximately $42,000. Cullen Frost Bankers Inc. lifted its position in XPO by 69.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company's stock valued at $42,000 after buying an additional 130 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in XPO by 25.6% during the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company's stock valued at $49,000 after buying an additional 76 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Trading Up 1.2 %

The firm's 50 day simple moving average is $107.50 and its 200-day simple moving average is $128.03. The company has a market capitalization of $11.50 billion, a PE ratio of 30.22, a P/E/G ratio of 1.79 and a beta of 2.05. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. As a group, equities research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current year.

XPO declared that its board has approved a stock repurchase program on Thursday, March 27th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

About XPO

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.