Xerox (NYSE:XRX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research note released on Tuesday.

Other equities research analysts have also issued reports about the company. Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Up 0.6 %

Shares of NYSE XRX opened at $8.67 on Tuesday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company has a 50-day moving average price of $8.94 and a 200-day moving average price of $9.74. The stock has a market capitalization of $1.08 billion, a P/E ratio of -0.79 and a beta of 1.59. Xerox has a 1 year low of $8.02 and a 1 year high of $19.48.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that Xerox will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Xerox

Several institutional investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new stake in Xerox in the third quarter worth $29,000. US Bancorp DE raised its stake in Xerox by 42.3% in the 3rd 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. International Assets Investment Management LLC lifted its holdings in Xerox by 938.0% during the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after purchasing an additional 7,504 shares during the last quarter. KBC Group NV boosted its position in Xerox by 84.5% during 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 during the period. Finally, CWM LLC increased its stake in shares of Xerox by 381.3% in the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 8,633 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

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.