Pinnacle Associates Ltd. purchased a new stake in shares of XPO Logistics, Inc. (NYSE:XPO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,125 shares of the transportation company’s stock, valued at approximately $719,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in XPO Logistics by 7.8% during the first quarter. Vanguard Group Inc. now owns 8,432,238 shares of the transportation company’s stock valued at $403,820,000 after buying an additional 606,812 shares during the last quarter. BlackRock Inc. lifted its stake in shares of XPO Logistics by 24,470.3% in the 1st quarter. BlackRock Inc. now owns 6,016,292 shares of the transportation company’s stock valued at $288,120,000 after purchasing an additional 5,991,806 shares during the last quarter. FMR LLC lifted its stake in shares of XPO Logistics by 23.6% in the 1st quarter. FMR LLC now owns 1,670,245 shares of the transportation company’s stock valued at $79,988,000 after purchasing an additional 319,056 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of XPO Logistics by 43.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,601,569 shares of the transportation company’s stock valued at $103,509,000 after purchasing an additional 485,053 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of XPO Logistics by 719.7% in the 2nd quarter. American Century Companies Inc. now owns 1,577,555 shares of the transportation company’s stock valued at $101,957,000 after purchasing an additional 1,385,098 shares during the last quarter. 89.55% of the stock is owned by institutional investors.
Shares of XPO Logistics, Inc. (XPO) traded down 0.88% during mid-day trading on Friday, reaching $59.89. The company’s stock had a trading volume of 453,861 shares. XPO Logistics, Inc. has a one year low of $31.68 and a one year high of $65.44. The stock has a market cap of $7.06 billion, a P/E ratio of 68.60 and a beta of 2.28. The stock has a 50 day moving average of $58.75 and a 200-day moving average of $55.41.
XPO Logistics (NYSE:XPO) last announced its quarterly earnings data on Wednesday, August 2nd. The transportation company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. XPO Logistics had a net margin of 0.80% and a return on equity of 6.49%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts expect that XPO Logistics, Inc. will post $1.91 EPS for the current fiscal year.
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Several research firms have recently issued reports on XPO. Cowen and Company reaffirmed a “buy” rating and issued a $69.00 price objective on shares of XPO Logistics in a research note on Thursday, September 7th. Stifel Nicolaus set a $77.00 price objective on XPO Logistics and gave the company a “buy” rating in a research note on Wednesday, August 23rd. William Blair reiterated an “outperform” rating on shares of XPO Logistics in a report on Monday, August 7th. BidaskClub downgraded XPO Logistics from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of XPO Logistics in a report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. XPO Logistics has a consensus rating of “Buy” and an average target price of $67.33.
About XPO Logistics
XPO Logistics, Inc is a global provider of supply chain solutions. The Company operates in two segments: Transportation and Logistics. The Transportation segment provides freight brokerage, last mile, less-than-truckload (LTL), full truckload and global forwarding services. The Logistics segment provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution, cold chain solutions and other inventory solutions.
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