Xerox (NYSE:XRX) Lowered to “Hold” Rating by StockNews.com

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

Several other equities analysts also recently weighed in on the company. Morgan Stanley dropped 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 lowered their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their target price on 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 and two have issued a hold rating to the stock. According to MarketBeat.com, Xerox presently has an average rating of “Reduce” and an average price target of $9.50.

Xerox Stock Down 5.1 %

Xerox stock opened at $8.85 on Wednesday. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78. The stock has a 50 day moving average of $9.50 and a two-hundred day moving average of $10.94. 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 $1.10 billion, a price-to-earnings ratio of -0.80 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS 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 analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Xerox

Several institutional investors have recently made changes to their positions in XRX. CWM LLC boosted its position in shares of 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 buying an additional 1,378 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Xerox during the 3rd quarter valued at $29,000. US Bancorp DE lifted its position in shares of Xerox by 42.3% during 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 last quarter. nVerses Capital LLC acquired a new stake in Xerox during the 2nd quarter valued at $78,000. Finally, International Assets Investment Management LLC raised its stake in Xerox by 938.0% during the 3rd 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 period. 85.36% of the stock is owned by institutional investors.

About Xerox

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.