Oppenheimer analyst Scott Schneeberger assigned a Buy rating to XPO Logistics (XPO) today and set a price target of $164.00. The company’s shares closed last Tuesday at $146.19, close to its 52-week high of $151.22.
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 15.1% and a 67.7% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service International, Target Hospitality, and Stericycle.
Currently, the analyst consensus on XPO Logistics is a Strong Buy with an average price target of $159.82, representing a 9.3% upside. In a report issued on June 1, Merrill Lynch also maintained a Buy rating on the stock with a $173.00 price target.
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Based on XPO Logistics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.77 billion and net profit of $115 million. In comparison, last year the company earned revenue of $3.86 billion and had a net profit of $23 million.
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XPO Logistics, Inc. engages in the provision of supply chain solutions. It operates through the following segments: Transportation and Logistics. The Transportation segment includes truck brokerage, expedite, intermodal, drayage, last mile, less-than-truckload, full truckload, global forwarding and managed transportation. The Logistics segment includes value-added warehousing, distribution and inventory management, omnichannel and e-commerce fulfillment, reverse logistics, cold chain solutions, packaging and labeling, factory support, aftermarket support and order personalization services. The company was founded by Michael Welch and Keith Avery in May 1989 and is headquartered in Greenwich, CT.