Citigroup downgraded shares of XP (NASDAQ:XP – Free Report) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $15.00 price objective on the stock, down from their previous price objective of $25.00.
A number of other equities research analysts also recently weighed in on XP. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their price target on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. UBS Group increased their price objective on XP from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Finally, Itau BBA Securities upgraded XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, XP has an average rating of “Hold” and a consensus target price of $26.17.
View Our Latest Analysis on XP
XP Trading Down 6.5%
XP stock opened at $15.05 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 0.37 and a beta of 1.01. XP has a 1 year low of $13.78 and a 1 year high of $32.73. The firm’s 50 day moving average price is $22.44 and its two-hundred day moving average price is $19.22.
XP (NASDAQ:XP – Get Free Report) last released its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 earnings per share. On average, research analysts predict that XP will post 2.08 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total transaction of $2,413,372.06. Following the completion of the transaction, the director owned 1,500,000 shares of the company’s stock, valued at approximately $29,370,000. The trade was a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Institutional Investors Weigh In On XP
A number of institutional investors have recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. acquired a new position in XP during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of XP by 46.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock valued at $47,000 after buying an additional 781 shares during the last quarter. Parallel Advisors LLC grew its position in shares of XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after buying an additional 1,775 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of XP in the second quarter valued at about $91,000. Finally, Strategic Investment Advisors MI acquired a new stake in shares of XP in the first quarter valued at about $126,000. 59.15% of the stock is owned by institutional investors and hedge funds.
About XP
XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.
The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.
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