Xerox Corporation (NYSE:XRX) Earns “Buy” Rating from Loop Capital

Xerox Corporation (NYSE:XRX)‘s stock had its “buy” rating reissued by research analysts at Loop Capital in a research report issued to clients and investors on Tuesday, August 8th. They currently have a $38.00 price target on the information technology services provider’s stock, up from their previous price target of $36.00. Loop Capital’s price target indicates a potential upside of 20.83% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Credit Suisse Group lifted their target price on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Citigroup Inc. set a $39.00 price target on Xerox Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. ValuEngine lowered Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC upgraded Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $27.00 to $33.00 in a report on Monday, July 24th. Finally, BidaskClub upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.23.

Xerox Corporation (XRX) traded down 1.26% during mid-day trading on Tuesday, hitting $31.45. 1,866,100 shares of the stock were exchanged. The firm’s market cap is $7.99 billion. The company has a 50 day moving average price of $30.48 and a 200 day moving average price of $29.11. Xerox Corporation has a 52-week low of $24.86 and a 52-week high of $32.99.

Xerox Corporation (NYSE:XRX) last released its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts anticipate that Xerox Corporation will post $3.36 EPS for the current year.

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Large investors have recently made changes to their positions in the company. Paragon Capital Management Ltd acquired a new stake in shares of Xerox Corporation during the first quarter valued at about $245,000. Seven Eight Capital LP purchased a new position in Xerox Corporation during the second quarter worth about $154,000. Penserra Capital Management LLC purchased a new position in Xerox Corporation during the second quarter worth about $164,000. JFS Wealth Advisors LLC purchased a new position in Xerox Corporation during the second quarter worth about $173,000. Finally, Risk Paradigm Group LLC purchased a new position in Xerox Corporation during the second quarter worth about $176,000.

Xerox Corporation Company Profile

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

Analyst Recommendations for Xerox Corporation (NYSE:XRX)

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