Xerox (NYSE:XRX) Raised to “Buy” at StockNews.com

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

Separately, JPMorgan Chase & Co. increased their price objective on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, January 26th.

Xerox Stock Down 1.0 %

Shares of XRX traded down $0.16 during mid-day trading on Tuesday, reaching $16.21. The company’s stock had a trading volume of 1,556,493 shares, compared to its average volume of 2,305,282. The business has a fifty day moving average of $17.73 and a 200 day moving average of $16.29. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -81.05 and a beta of 1.56. Xerox has a 1 year low of $12.06 and a 1 year high of $19.78. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06.

Xerox (NYSE:XRX) last released its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Xerox had a net margin of 0.01% and a return on equity of 9.41%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company earned $0.89 EPS. Xerox’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, analysts forecast that Xerox will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xerox

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Xerox by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after purchasing an additional 190,034 shares during the period. BlackRock Inc. lifted its stake in Xerox by 15.1% during the first quarter. BlackRock Inc. now owns 15,540,136 shares of the information technology services provider’s stock worth $239,318,000 after purchasing an additional 2,033,262 shares during the period. LSV Asset Management lifted its stake in Xerox by 4.5% during the third quarter. LSV Asset Management now owns 6,240,257 shares of the information technology services provider’s stock worth $97,910,000 after purchasing an additional 271,302 shares during the period. State Street Corp lifted its stake in Xerox by 1.1% during the first quarter. State Street Corp now owns 4,790,757 shares of the information technology services provider’s stock worth $74,965,000 after purchasing an additional 52,043 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Xerox by 5.8% during the second quarter. Geode Capital Management LLC now owns 2,435,033 shares of the information technology services provider’s stock worth $36,258,000 after purchasing an additional 133,551 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

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.