Xerox (NYSE:XRX) Rating Lowered to Hold at StockNews.com

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

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. Citigroup assumed coverage on Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target for the company.

Xerox Stock Up 1.9 %

XRX stock opened at $11.03 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 1.07. The company’s 50 day simple moving average is $12.73 and its 200-day simple moving average is $15.35. Xerox has a 12 month low of $10.28 and a 12 month high of $19.78. The firm has a market capitalization of $1.37 billion, a PE ratio of -7.03 and a beta of 1.58.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.49%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company posted $0.44 EPS. Xerox’s quarterly revenue was down 10.0% compared to the same quarter last year. Equities analysts expect that Xerox will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xerox

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Xerox during the 4th quarter worth approximately $25,000. CWM LLC raised its stake in shares of Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Xerox by 38.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 630 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Xerox during the 1st quarter valued at $45,000. Finally, TFO Wealth Partners LLC boosted its position in Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after purchasing an additional 3,314 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.