Bank of Nova Scotia Buys New Shares in XPO, Inc. $XPO

Bank of Nova Scotia purchased a new stake in shares of XPO, Inc. (NYSE:XPO) during the second quarter, Holdings Channel reports. The fund purchased 4,511 shares of the transportation company’s stock, valued at approximately $926,000.

A number of other large investors have also recently bought and sold shares of the business. Elyxium Wealth LLC bought a new position in shares of XPO in the 4th quarter worth about $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of XPO during the 2nd quarter valued at about $32,000. Torren Management LLC acquired a new stake in XPO during the fourth quarter worth approximately $37,000. Horizon Investments LLC acquired a new stake in XPO during the third quarter worth approximately $39,000. Finally, International Assets Investment Management LLC acquired a new stake in XPO during the fourth quarter worth approximately $41,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BMO Capital Markets boosted their price target on XPO from $240.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Stephens raised their price objective on shares of XPO from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup reduced their price objective on shares of XPO from $226.00 to $221.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Barclays lifted their price objective on shares of XPO from $195.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, TD Cowen increased their target price on shares of XPO from $224.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.86.

XPO Price Performance

Shares of NYSE:XPO opened at $192.82 on Thursday. XPO, Inc. has a twelve month low of $121.48 and a twelve month high of $232.05. The stock’s 50 day moving average is $204.36 and its 200-day moving average is $205.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 56.88, a PEG ratio of 1.95 and a beta of 1.85.

XPO (NYSE:XPO) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. XPO had a net margin of 4.71% and a return on equity of 29.64%. XPO’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. Sell-side analysts forecast that XPO, Inc. will post 5.44 EPS for the current fiscal year.

Insider Activity

In related news, CAO Christopher Michael Brown sold 3,750 shares of XPO stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total transaction of $757,275.00. Following the transaction, the chief accounting officer owned 31,005 shares of the company’s stock, valued at $6,261,149.70. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by insiders.

About XPO

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.