Xerox (NYSE:XRX) Hits New 12-Month Low – Here’s Why

Xerox Holdings Co. (NYSE:XRX)’s share price hit a new 52-week low on Friday . The company traded as low as $7.93 and last traded at $7.91, with a volume of 2136776 shares changing hands. The stock had previously closed at $8.39.

Wall Street Analyst Weigh In

XRX has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Down 6.4 %

The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $976.30 million, a P/E ratio of -0.73 and a beta of 1.59. The firm has a fifty day simple moving average of $8.87 and a 200-day simple moving average of $9.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in shares of Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after acquiring an additional 69,183 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Xerox by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after purchasing an additional 107,580 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after purchasing an additional 69,182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after buying an additional 62,947 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of Xerox by 16.9% in the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock valued at $7,704,000 after buying an additional 107,127 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.