StockNews.com Lowers Xerox (NYSE:XRX) to Hold

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

Separately, JPMorgan Chase & Co. upped their price target on shares of Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.

Xerox Trading Down 1.4 %

XRX stock opened at $14.18 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37. The company’s 50-day simple moving average is $17.32 and its 200 day simple moving average is $16.29. Xerox has a 52 week low of $12.06 and a 52 week high of $19.78. The company has a market capitalization of $1.76 billion, a PE ratio of -9.03 and a beta of 1.56.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Xerox will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in XRX. Vanguard Group Inc. boosted its stake in shares of Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after purchasing an additional 1,464,851 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of Xerox in the 4th quarter valued at approximately $17,470,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Xerox in the 4th quarter valued at approximately $14,832,000. AQR Capital Management LLC boosted its stake in shares of Xerox by 43.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock valued at $27,718,000 after purchasing an additional 531,173 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Xerox in the 4th quarter valued at approximately $9,435,000. 85.36% of the stock is currently 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.