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

Xerox (NYSE:XRX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research 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 report on Friday, January 26th.

Xerox Stock Down 1.4 %

XRX stock opened at $14.18 on Wednesday. Xerox has a 12 month low of $12.06 and a 12 month high of $19.78. The firm has a market cap of $1.76 billion, a PE ratio of -9.03 and a beta of 1.56. The firm has a 50 day simple moving average of $17.32 and a 200 day simple moving average of $16.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91.

Xerox (NYSE:XRX) last issued 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). The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Equities research analysts forecast that Xerox will post 2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Xerox by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after buying an additional 190,034 shares during the period. LSV Asset Management lifted its holdings in shares of Xerox by 4.5% during the 3rd quarter. LSV Asset Management now owns 6,240,257 shares of the information technology services provider’s stock worth $97,910,000 after acquiring an additional 271,302 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Xerox by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock worth $27,718,000 after acquiring an additional 531,173 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Xerox by 10.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock worth $29,090,000 after acquiring an additional 153,144 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Xerox by 65.2% during the 3rd quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock worth $20,114,000 after acquiring an additional 506,117 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.