Xerox (NYSE:XRX) Lowered to Strong Sell Rating by Zacks Research

Xerox (NYSE:XRX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Citigroup reduced their price objective on Xerox from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, November 10th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Xerox presently has an average rating of “Reduce” and an average target price of $3.50.

Xerox Trading Up 3.8%

XRX stock opened at $2.46 on Thursday. Xerox has a one year low of $2.32 and a one year high of $9.91. The stock has a market cap of $314.98 million, a price-to-earnings ratio of -0.23 and a beta of 1.73. The company has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $3.79. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.38. Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Equities analysts anticipate that Xerox will post 1.07 EPS for the current year.

Institutional Investors Weigh In On Xerox

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in Xerox by 71.0% in the 2nd quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after acquiring an additional 1,630,999 shares in the last quarter. Two Sigma Investments LP increased its holdings in Xerox by 43.2% in the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after buying an additional 746,582 shares during the period. Invesco Ltd. lifted its holdings in shares of Xerox by 3.4% during the 2nd quarter. Invesco Ltd. now owns 1,898,380 shares of the information technology services provider’s stock worth $10,004,000 after acquiring an additional 61,723 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Xerox by 10.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,851,034 shares of the information technology services provider’s stock worth $6,960,000 after acquiring an additional 181,023 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in Xerox by 45.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,810,248 shares of the information technology services provider’s stock valued at $9,540,000 after acquiring an additional 564,048 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Company Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.