Loop Capital Lowers Xerox (NYSE:XRX) Price Target to $11.00

Xerox (NYSE:XRX) had its price objective dropped by analysts at Loop Capital from $14.00 to $11.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the information technology services provider’s stock. Loop Capital’s target price would suggest a potential upside of 10.44% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th. Finally, Citigroup assumed coverage on Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, Xerox presently has an average rating of “Reduce” and a consensus target price of $12.75.

Xerox Stock Down 2.3 %

XRX stock traded down $0.23 during midday trading on Wednesday, hitting $9.96. The stock had a trading volume of 347,217 shares, compared to its average volume of 2,197,106. The business has a 50-day moving average of $11.86 and a two-hundred day moving average of $14.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -6.34 and a beta of 1.58. Xerox has a 52-week low of $9.51 and a 52-week high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was down 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Xerox will post 1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Xerox in the 4th quarter valued at approximately $25,000. CWM LLC raised its stake in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 1,378 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Xerox by 38.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 630 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Xerox in the first quarter valued at approximately $45,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of Xerox by 30,127.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares during the last quarter. Institutional investors and hedge funds 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.