StockNews.com Upgrades Xerox (NYSE:XRX) to “Buy”

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 Tuesday.

A number of other research firms have also recently commented on XRX. Loop Capital reduced their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Morgan Stanley reduced their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Xerox presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Price Performance

NYSE:XRX opened at $9.06 on Tuesday. Xerox has a 1-year low of $8.02 and a 1-year high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The firm has a fifty day simple moving average of $9.61 and a 200 day simple moving average of $11.08. The stock has a market capitalization of $1.13 billion, a PE ratio of -0.82 and a beta of 1.59.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business posted $0.46 earnings per share. Xerox’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, research analysts expect that Xerox will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares in the last quarter. Gladius Capital Management LP acquired a new position in Xerox during the third quarter worth about $29,000. US Bancorp DE raised 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 worth $66,000 after acquiring an additional 1,888 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Xerox during the first quarter worth about $115,000. Finally, nVerses Capital LLC acquired a new position in Xerox during the second quarter worth about $78,000. 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.