Xerox (NYSE:XRX) Rating Increased to Buy at StockNews.com

Xerox (NYSE:XRX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research analysts have also commented on XRX. Morgan Stanley reduced 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. Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Down 0.9 %

Shares of XRX stock traded down $0.08 during mid-day trading on Tuesday, hitting $9.08. The stock had a trading volume of 1,928,583 shares, compared to its average volume of 2,193,009. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78. 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 firm’s 50-day moving average is $9.64 and its two-hundred day moving average is $11.11. The firm has a market capitalization of $1.13 billion, a P/E ratio of -0.82 and a beta of 1.59.

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

Institutional Trading of Xerox

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after buying an additional 4,228,806 shares during the period. Geode Capital Management LLC grew its stake in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after purchasing an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Xerox by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after purchasing an additional 107,580 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.