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

Xerox (NYSE:XRX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

XRX has been the subject of several other research reports. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Down 5.8 %

XRX traded down $0.56 during trading on Tuesday, hitting $9.15. 4,810,274 shares of the company’s stock traded hands, compared to its average volume of 2,512,085. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78. The company’s 50 day simple moving average is $8.94 and its two-hundred day simple moving average is $9.75. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59.

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 positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. Analysts predict that Xerox will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in Xerox by 8.2% during the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after buying an additional 46,212 shares during the period. Vest Financial LLC purchased a new position in shares of Xerox during the fourth quarter valued at approximately $97,000. Yousif Capital Management LLC grew its stake in shares of Xerox by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock valued at $454,000 after buying an additional 1,486 shares during the last quarter. Prism Advisors Inc. bought a new stake in shares of Xerox during the 4th quarter worth approximately $103,000. Finally, KBC Group NV grew its holdings in shares of 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 during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.