XP (NASDAQ:XP – Free Report) had its target price trimmed by UBS Group from $37.00 to $23.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.
A number of other research analysts have also recently issued reports on XP. Santander cut XP to a “neutral” rating in a research report on Thursday, October 29th. Weiss Ratings upgraded shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their price target on shares of XP from $26.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Citigroup cut shares of XP from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $15.00 in a research report on Tuesday, October 27th. Finally, Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday, August 31st. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, XP has an average rating of “Hold” and an average target price of $23.83.
View Our Latest Stock Analysis on XP
XP Trading Down 2.6%
Shares of XP opened at $14.78 on Thursday. XP has a 52-week low of $13.78 and a 52-week high of $32.73. The business’s fifty day moving average is $22.18 and its 200-day moving average is $19.15. 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 $7.94 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.35 and a beta of 1.18.
XP (NASDAQ:XP – Get Free Report) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. The company had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. During the same quarter in the previous year, the firm earned $2.46 EPS. XP’s revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate 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 on 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 sale, the director owned 1,500,000 shares in the company, valued at $29,370,000. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Institutional Trading of XP
Hedge funds have recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. increased its holdings in XP by 247.7% in the third quarter. Eurizon Capital SGR S.p.A. now owns 302,941 shares of the company’s stock valued at $6,360,000 after purchasing an additional 215,823 shares during the period. Maryland State Retirement & Pension System raised its position in XP by 18.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,649 shares of the company’s stock worth $476,000 after purchasing an additional 3,581 shares during the last quarter. Lido Advisors LLC acquired a new stake in shares of XP in the third quarter valued at about $211,000. Ethic Inc. increased its stake in shares of XP by 56.3% in the third quarter. Ethic Inc. now owns 64,968 shares of the company’s stock valued at $1,364,000 after buying an additional 23,407 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in shares of XP during the third quarter worth about $205,000. 59.15% of the stock is owned by institutional investors and hedge funds.
XP Company Profile
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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