Stock Buyback Program Declared by XPO (NYSE:XPO) Board

XPO (NYSE:XPO) declared that its board has approved a stock buyback plan on Thursday, March 27th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus upgraded shares of XPO from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research report on Monday, February 24th. The Goldman Sachs Group lifted their target price on XPO from $150.00 to $167.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer upped their price target on XPO from $148.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on XPO from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, UBS Group raised their target price on XPO from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $155.37.

XPO Stock Performance

NYSE XPO opened at $107.36 on Friday. XPO has a 1-year low of $97.03 and a 1-year high of $161.00. The company has a 50 day moving average of $125.98 and a 200-day moving average of $129.77. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. On average, equities analysts forecast that XPO will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at XPO

In other news, COO David J. Bates purchased 1,880 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $106.16 per share, with a total value of $199,580.80. Following the completion of the purchase, the chief operating officer now directly owns 21,106 shares of the company’s stock, valued at $2,240,612.96. The trade was a 9.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.