This article was first published on www.analystratings.com, written by George Macdonald.
In a report issued on July 24, Keith Bachman from BMO Capital maintained a Market Perform rating on Xerox Corp. (NYSE: XRX), with a price target of $12.50. The company’s shares closed last Friday at $10.94.
Bachman said, “We retain our Market Perform rating. We are lowering our target price from $13.50 to $12.50, which is 12x-13x our CY16 EPS (no change in multipleranges) and 13x -14x EV/CY16 FCF, including finance debt. Given consistent execution problems, we choose to sit on the sidelines. Further, with ongoingmid-single-digit rev declines in higher-margin printing, and the potential for lowsingle digit rev growth, assuming improved signings, in lower margin services,we believe that consolidated margins will remain under pressure, even withimproved execution.”
Xerox Corp. has an analyst consensus of Hold, with a price target consensus of $13.50.
The company has a one year high of $14.13 and a one year low of $10.24. Currently, Xerox Corp. has an average volume of 11.12M.
Financial bloggers on sites such as SeekingAlpha, wsobserver.com and others, seem to have a Positive view on XRX. When evaluating the opinions of financial bloggers over the last 3 months, 91% of bloggers have indicated a Bullish sentiment, while 9% have indicated a Bearish sentiment. The average blogger Bullish sentiment in the Technology sector is 67% which is less positive than the blogger sentiment of XRX.
Unlike BMO Capital`s latest rating, based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Jeffrey Jacobson, a the EVP of XRX sold 23,382 shares for a total of $249,720.
According to TipRanks.com, Bachman is a top 100 analyst with an average return of23.2% and a 66.9% success rate. Bachman covers the Technology sector, focusing on stocks such as Electronics for Imaging, Computer Sciences, and Hewlett-Packard.
Xerox Corporation is engaged in business process and document management solutions. It provides services, technology and expertise to small businesses to large enterprises, to focus on their core business and operate more effectively..