Xerox (NYSE:XRX) Upgraded to Buy at StockNews.com

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

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley decreased their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Xerox presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Performance

Shares of XRX stock opened at $9.23 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a 50-day moving average of $8.99 and a 200-day moving average of $10.35. Xerox has a one year low of $8.02 and a one year high of $19.78. The company has a market cap of $1.15 billion, a P/E ratio of -0.84 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 (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. Equities research analysts forecast that Xerox will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in XRX. Los Angeles Capital Management LLC grew its holdings in shares of Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 1,327 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Xerox by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock valued at $668,000 after buying an additional 1,500 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Xerox by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock worth $740,000 after buying an additional 1,627 shares during the period. US Bancorp DE lifted its stake in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in Xerox during the 3rd quarter worth approximately $29,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.