Stock Buyback Program Declared by XPO (NYSE:XPO) Board

XPO (NYSE:XPO) announced that its Board of Directors has initiated a stock buyback program on Thursday, March 27th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

XPO Stock Down 5.2 %

Shares of XPO stock opened at $107.36 on Friday. XPO has a 52-week low of $97.03 and a 52-week high of $161.00. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.79 and a beta of 2.13. The firm’s 50-day moving average is $125.98 and its 200-day moving average is $129.77. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06.

XPO (NYSE:XPO) last released its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. Sell-side analysts predict that XPO will post 4.15 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America reduced their target price on shares of XPO from $150.00 to $131.00 and set a “buy” rating for the company in a research note on Friday. UBS Group upped their price objective on XPO from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays decreased their price objective on XPO from $165.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Benchmark upped their price target on XPO from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group raised their price target on shares of XPO from $150.00 to $167.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $155.37.

Insider Activity at XPO

In related news, COO David J. Bates acquired 1,880 shares of XPO stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $106.16 per share, with a total value of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares in the company, valued at $2,240,612.96. This trade represents a 9.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.