Fred Alger Management LLC Sells 532 Shares of XPO, Inc. (NYSE:XPO)

Fred Alger Management LLC trimmed its stake in XPO, Inc. (NYSE:XPO) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,721 shares of the transportation company’s stock after selling 532 shares during the quarter. Fred Alger Management LLC’s holdings in XPO were worth $1,563,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of XPO in the first quarter worth $27,000. Riverview Trust Co purchased a new position in shares of XPO in the first quarter worth $31,000. Blue Trust Inc. raised its stake in shares of XPO by 25,800.0% in the second quarter. Blue Trust Inc. now owns 259 shares of the transportation company’s stock worth $27,000 after purchasing an additional 258 shares during the last quarter. Quest Partners LLC purchased a new position in shares of XPO in the second quarter worth $28,000. Finally, ORG Partners LLC purchased a new position in shares of XPO in the first quarter worth $36,000. 97.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XPO. Bank of America reduced their price objective on XPO from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Susquehanna upped their price objective on XPO from $145.00 to $160.00 and gave the company a “positive” rating in a research report on Wednesday, September 18th. TD Cowen reduced their price objective on XPO from $143.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Raymond James reduced their price objective on XPO from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of XPO in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.18.

XPO Trading Up 0.2 %

XPO stock opened at $111.53 on Friday. The firm has a 50 day moving average of $113.14 and a 200 day moving average of $113.10. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 54.67, a P/E/G ratio of 1.85 and a beta of 2.11. XPO, Inc. has a 12-month low of $65.80 and a 12-month high of $130.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.63.

XPO (NYSE:XPO) last released its earnings results on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.11. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. XPO had a net margin of 4.48% and a return on equity of 32.49%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, research analysts predict that XPO, Inc. will post 3.59 earnings per share for the current year.

XPO Profile

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.