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

Xerox (NYSE:XRX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

XRX has been the topic of several other research reports. Loop Capital cut their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Citigroup began coverage on shares of Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.75.

Xerox Stock Down 0.7 %

Shares of Xerox stock opened at $10.87 on Thursday. Xerox has a 52-week low of $9.51 and a 52-week high of $19.78. The company has a 50 day moving average of $10.91 and a 200 day moving average of $13.96. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.35 billion, a P/E ratio of -6.92 and a beta of 1.58.

Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted $0.44 earnings per share. Xerox’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts forecast that Xerox will post 1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in Xerox by 2.0% during the 4th quarter. New York State Common Retirement Fund now owns 72,476 shares of the information technology services provider’s stock worth $1,328,000 after purchasing an additional 1,407 shares during the period. Truist Financial Corp grew its holdings in shares of Xerox by 70.1% during the fourth quarter. Truist Financial Corp now owns 61,191 shares of the information technology services provider’s stock worth $1,122,000 after buying an additional 25,214 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Xerox by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock valued at $29,090,000 after acquiring an additional 153,144 shares during the period. Teacher Retirement System of Texas raised its stake in Xerox by 316.1% during the 4th quarter. Teacher Retirement System of Texas now owns 222,087 shares of the information technology services provider’s stock valued at $4,071,000 after acquiring an additional 168,713 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Xerox by 8.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 26,825 shares of the information technology services provider’s stock valued at $492,000 after purchasing an additional 2,162 shares during the last quarter. Institutional investors and hedge funds 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.