Xerox (NYSE:XRX) Stock Rating Upgraded by StockNews.com

Xerox (NYSE:XRX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other equities research analysts have also commented on XRX. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.50.

Xerox Stock Performance

Shares of NYSE XRX opened at $8.59 on Monday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -0.78 and a beta of 1.59. The firm’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $10.54. Xerox has a 52-week low of $8.02 and a 52-week high of $19.78. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Xerox will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Xerox

Hedge funds have recently modified their holdings of the company. CWM LLC grew its holdings in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 1,378 shares during the period. Gladius Capital Management LP bought a new stake in shares of Xerox in the 3rd quarter worth approximately $29,000. US Bancorp DE lifted its stake in Xerox by 42.3% during the third 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 during the last quarter. nVerses Capital LLC bought a new stake in Xerox during the second quarter worth approximately $78,000. Finally, International Assets Investment Management LLC grew its position in Xerox by 938.0% in the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after buying an additional 7,504 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile

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.