Xerox (NYSE:XRX) Upgraded at StockNews.com

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

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, April 24th. Citigroup started coverage on shares of Xerox in a research note on Friday. They set a “sell” rating and a $11.00 price objective on the stock.

Xerox Stock Down 0.6 %

Shares of NYSE XRX opened at $11.55 on Tuesday. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $16.20. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.36 and a beta of 1.58. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. Xerox has a 52 week low of $11.50 and a 52 week high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. Equities research analysts anticipate that Xerox will post 2.05 EPS for the current fiscal year.

Institutional Trading of Xerox

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in Xerox in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new stake in Xerox during the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its stake in Xerox by 38.7% during 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 in the last quarter. EntryPoint Capital LLC bought a new stake in Xerox during the first quarter worth about $45,000. Finally, TFO Wealth Partners LLC raised its position in Xerox by 30,127.3% in the 4th 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. 85.36% of the stock is currently owned by 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.