Xerox (NYSE:XRX) Sets New 1-Year Low – Should You Sell?

Shares of Xerox Holdings Co. (NYSE:XRX) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.93 and last traded at $7.91, with a volume of 2136776 shares changing hands. The stock had previously closed at $8.39.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Xerox from $10.00 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 and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average target price of $9.50.

Xerox Price Performance

The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market cap of $976.30 million, a P/E ratio of -0.73 and a beta of 1.59. The stock’s 50-day moving average is $8.87 and its 200-day moving average is $9.62.

Institutional Trading of Xerox

Several institutional investors have recently modified their holdings of XRX. Gladius Capital Management LP acquired a new stake in Xerox during the third quarter worth $29,000. US Bancorp DE increased its stake in Xerox by 42.3% in the third 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 period. KBC Group NV raised its position in Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 4,224 shares in the last quarter. Marathon Trading Investment Management LLC bought a new position in Xerox during the fourth quarter worth about $84,000. Finally, Vest Financial LLC acquired a new stake in Xerox during the fourth quarter valued at approximately $97,000. 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.