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

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

XRX has been the subject of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Trading Down 5.8 %

NYSE:XRX opened at $8.62 on Tuesday. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The firm has a 50 day moving average of $8.94 and a 200 day moving average of $9.75. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -0.78 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share 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 analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $0.46 earnings per share. Xerox’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xerox will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in Xerox by 81.8% during the second quarter. Sei Investments Co. now owns 121,663 shares of the information technology services provider’s stock worth $1,414,000 after buying an additional 54,748 shares during the period. Cubist Systematic Strategies LLC grew its stake in Xerox by 21.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,881 shares of the information technology services provider’s stock worth $580,000 after purchasing an additional 8,736 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Xerox during the second quarter worth approximately $1,031,000. AQR Capital Management LLC boosted its position in shares of Xerox by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after acquiring an additional 76,886 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Xerox by 2.6% during the 2nd 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 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.