Xerox (NYSE:XRX) Downgraded by StockNews.com

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

Several other research analysts have also commented on the company. Citigroup began coverage on Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective for the company. Loop Capital lowered their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat.com, Xerox currently has a consensus rating of “Reduce” and a consensus target price of $12.75.

Xerox Stock Down 0.6 %

XRX stock traded down $0.07 during midday trading on Wednesday, reaching $10.94. 984,894 shares of the company were exchanged, compared to its average volume of 2,164,213. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -6.97 and a beta of 1.58. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. Xerox has a 1-year low of $9.51 and a 1-year high of $19.78. The stock’s 50-day simple moving average is $11.10 and its 200 day simple moving average is $14.22.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. Xerox’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts forecast that Xerox will post 1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC increased its position in Xerox by 1.0% during the 4th quarter. Yousif Capital Management LLC now owns 64,642 shares of the information technology services provider’s stock worth $1,185,000 after purchasing an additional 615 shares during the period. Hexagon Capital Partners LLC raised its position 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 in the last quarter. SummerHaven Investment Management LLC lifted its holdings in Xerox by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock valued at $551,000 after acquiring an additional 1,110 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Xerox by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock worth $1,771,000 after purchasing an additional 1,323 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 1,327 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other 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.