XPO (NYSE:XPO) Board of Directors Initiates Stock Buyback Program

XPO (NYSE:XPO) announced that its board has initiated a stock buyback program on Thursday, March 27th, RTT News reports. The company plans to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

XPO Stock Performance

XPO stock opened at $107.36 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. XPO has a twelve month low of $97.03 and a twelve month high of $161.00. The company’s 50-day moving average price is $125.98 and its 200-day moving average price is $129.57. The company has a market cap of $12.59 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. On average, equities research analysts forecast that XPO will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XPO. Bank of America lowered their price target on shares of XPO from $150.00 to $131.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial started coverage on shares of XPO in a report on Thursday, March 13th. They issued a “buy” rating and a $130.00 target price for the company. The Goldman Sachs Group increased their price target on XPO from $150.00 to $167.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays dropped their price objective on XPO from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Vertical Research upgraded XPO from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, March 6th. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, XPO currently has a consensus rating of “Buy” and a consensus price target of $155.37.

Insider Buying and Selling

In other news, COO David J. Bates acquired 1,880 shares of XPO stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $106.16 per share, with a total value of $199,580.80. Following the transaction, the chief operating officer now directly owns 21,106 shares of the company’s stock, valued at $2,240,612.96. This trade represents a 9.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.