CIBC Asset Management Inc Sells 254 Shares of XPO Logistics Inc (NYSE:XPO)

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CIBC Asset Management Inc cut its position in XPO Logistics Inc (NYSE:XPO) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,225 shares of the transportation company’s stock after selling 254 shares during the quarter. CIBC Asset Management Inc’s holdings in XPO Logistics were worth $374,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in XPO. Lyrical Asset Management LP bought a new position in XPO Logistics in the second quarter worth about $176,926,000. Baupost Group LLC MA bought a new position in XPO Logistics in the second quarter worth about $86,715,000. ValueAct Holdings L.P. bought a new position in XPO Logistics in the second quarter worth about $57,810,000. North Peak Capital Management LLC bought a new position in XPO Logistics in the second quarter worth about $17,820,000. Finally, Nuveen Asset Management LLC bought a new position in XPO Logistics in the second quarter worth about $13,920,000.

Shares of NYSE XPO opened at $84.64 on Friday. The business’s 50 day moving average price is $75.18 and its 200 day moving average price is $65.71. The firm has a market cap of $7.82 billion, a P/E ratio of 26.53, a P/E/G ratio of 0.69 and a beta of 2.48. XPO Logistics Inc has a 52 week low of $41.05 and a 52 week high of $86.47. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.32.

XPO Logistics (NYSE:XPO) last issued its earnings results on Monday, October 28th. The transportation company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.15. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.27 billion. XPO Logistics had a return on equity of 13.87% and a net margin of 2.31%. XPO Logistics’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, research analysts expect that XPO Logistics Inc will post 3.99 earnings per share for the current year.

In other news, Director Jason D. Papastavrou bought 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $75.42 per share, for a total transaction of $103,702.50. Following the completion of the transaction, the director now directly owns 13,875 shares in the company, valued at $1,046,452.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.70% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the stock. Stephens upped their price objective on shares of XPO Logistics from $64.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. SunTrust Banks upped their price objective on shares of XPO Logistics from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley restated a “hold” rating and set a $84.00 price objective on shares of XPO Logistics in a report on Thursday. Cowen upped their price objective on shares of XPO Logistics from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Raymond James restated an “outperform” rating and set a $78.00 price objective (up previously from $68.00) on shares of XPO Logistics in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $83.53.

XPO Logistics Company Profile

XPO Logistics, Inc provides transportation and logistics services in the United States, North America, France, the United Kingdom, Europe, and internationally. The company's Transportation segment offers freight brokerage services comprising truck brokerage, intermodal, drayage, and expedite services; last mile services, primarily asset-light; density and day-definite regional, inter-regional, and transcontinental less-than-truckload freight services; full truckload services for transactional transportation of packaged goods, high cube products, and bulk goods; logistics services for domestic, cross-border, and international shipments; and managed transportation services.

See Also: Straddles

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Institutional Ownership by Quarter for XPO Logistics (NYSE:XPO)

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