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XPO Logistics, Inc. (XPO)

NYSE - Nasdaq Real Time Price. Currency in USD
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118.34-2.46 (-2.04%)
As of 1:46PM EST. Market open.
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Previous Close120.80
Open119.41
Bid117.91 x 900
Ask118.04 x 800
Day's Range116.52 - 119.78
52 Week Range38.47 - 128.57
Volume375,778
Avg. Volume970,006
Market Cap10.818B
Beta (5Y Monthly)2.24
PE Ratio (TTM)137.93
EPS (TTM)0.86
Earnings DateFeb 08, 2021 - Feb 12, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est129.25
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  • XPO Logistics Surpasses 300,000 App Downloads for Digital Transportation Platform
    GlobeNewswire

    XPO Logistics Surpasses 300,000 App Downloads for Digital Transportation Platform

    GREENWICH, Conn., Jan. 14, 2021 (GLOBE NEWSWIRE) --  XPO Logistics, Inc. (NYSE: XPO), a leading global provider of supply chain solutions, today announced a significant acceleration in the adoption of its XPO Connect digital freight marketplace worldwide. Demand for the company’s Drive XPO mobile app has propelled a 50% increase in downloads in the last three months of 2020, taking the cumulative total from 200,000 to 300,000. Carriers and truck drivers use the app to access XPO Connect. The dramatic growth of XPO Connect underscores its position as one of the most rapidly adopted digital transportation platforms in the industry. For the full year 2020, compared with 2019, cumulative downloads of the app tripled, and the number of carriers registered on the platform increased by 47%.Drew Wilkerson, XPO’s president of North American transportation, said, “XPO Connect’s strong upward trajectory reflects the industry shift we envisioned when investing hundreds of millions of dollars in our transportation technology. Now we have a premier platform with new capabilities underway. The value of our technology will compound in response to fast-growing demand from our customers and carriers.”XPO Connect uses machine learning to analyze data histories and market conditions in seconds, helping shippers and carriers buy and sell capacity more efficiently in real time. The platform also provides critical visibility of shipments in transit, including XPO-managed transportation of vaccines, therapeutic drugs and personal protective equipment for COVID-19 response efforts.Drivers can download the Drive XPO app at no charge from the iOS and Android stores.About XPO Logistics XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,629 locations and more than 100,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO's corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.Media Contact XPO Logistics, Inc. Joe Checkler +1-203-423-2098 joe.checkler@xpo.com

  • XPO Logistics Announces Senior Leadership  for Logistics Segment Spin-Off
    GlobeNewswire

    XPO Logistics Announces Senior Leadership for Logistics Segment Spin-Off

    GREENWICH, Conn., Jan. 12, 2021 (GLOBE NEWSWIRE) --  XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced the senior leadership team for the intended spin-off of the company’s logistics segment. The following XPO executives will transition to their respective roles, subject to completion of the planned transaction: * Malcolm Wilson, currently chief executive officer of XPO Logistics Europe, will become CEO of the new company’s global business. Wilson has three decades of executive experience managing multinational supply chain operations. Under his leadership, XPO’s European logistics business has achieved unprecedented growth and efficiencies. Wilson joined XPO in 2015 through the company’s acquisition of industry leader Norbert Dentressangle, where he was head of the logistics division and a member of the executive board. He grew the logistics division to global scale as Norbert Dentressangle’s largest revenue-producing unit.   * Richard Cawston is XPO’s president, supply chain logistics – Europe, and will continue in this role with the new company. Cawston joined XPO through the Norbert Dentressangle acquisition in 2015. He initially served as managing director of XPO’s logistics operations in the UK and Ireland before assuming leadership of the broader European logistics network. His 20-year career includes deep expertise in the e-commerce sector, where XPO is the European logistics leader in outsourced fulfillment.   * Ashfaque Chowdhury is XPO’s president, supply chain logistics ­­– Americas and Asia Pacific, and will continue in this role with the new company. Chowdhury had 20 years of senior experience with New Breed Logistics when he joined XPO in 2014, initially serving as chief information officer for the logistics segment. As head of North America, Latin America and Asia, he has transformed logistics into a data-driven business and leads the implementation of cutting-edge supply chain solutions for some of the world’s largest companies.As previously announced, XPO expects to complete the spin-off in the second half of 2021, creating a separate, publicly traded logistics company. Its board of directors will be chaired by Brad Jacobs, who will continue to serve as chairman and chief executive officer of XPO Logistics.Jacobs said, “Malcolm, Richard and Ashfaque are highly innovative leaders who are recognized as best-in-class by blue-chip customers. This team has worked together for years, and is ideally suited to unlock the growth opportunities in the standalone company. They have a long track record of creating sustainable value in the business through sophisticated operations, including advanced automation and digital warehouse management.”Post-separation, the new company will be the second largest contract logistics provider in the world, with a value proposition that includes cutting-edge technology, leading capabilities in e-commerce, food and beverage, consumer electronics, industrial and reverse logistics, and the XPO Direct shared distribution network. XPO’s logistics segment currently has approximately 212 million square feet (20 million square meters) of space at 890 locations worldwide.About XPO LogisticsXPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,629 locations and more than 100,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO's corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.Forward-looking StatementsThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors (including risks, uncertainties and assumptions) that might cause or contribute to a material difference include the expected benefits and costs of the intended spin-off transaction, the expected timing of the completion of the spin-off transaction and the transaction terms, the risks discussed in our filings with the SEC and the following: the severity, magnitude, duration and aftereffects of the COVID-19 pandemic and government responses to the COVID-19 pandemic; public health crises (including COVID-19); economic conditions generally; competition and pricing pressures; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our customers' demands; our ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our substantial indebtedness; our ability to raise debt and equity capital; our ability to implement our cost and revenue initiatives; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain qualified drivers; litigation, including litigation related to alleged misclassification of independent contractors and securities class actions; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers and efforts by labor organizations to organize our employees; risks associated with our self-insured claims; risks associated with defined benefit plans for our current and former employees; fluctuations in currency exchange rates; fluctuations in fixed and floating interest rates; fuel price and fuel surcharge changes; issues related to our intellectual property rights; governmental regulation, including trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom's exit from the European Union; and natural disasters, terrorist attacks or similar incidents. All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.Investor Contact XPO Logistics, Inc. Tavio Headley +1-203-413-4006 tavio.headley@xpo.comMedia Contacts XPO Logistics, Inc. Joe Checkler +1-203-423-2098 joe.checkler@xpo.comKekst CNC Liz Cohen +1-917-842-5697 XPOmedia@kekstcnc.com

  • December LTL Volumes 'Remain Healthy'
    Benzinga

    December LTL Volumes 'Remain Healthy'

    Less-than-truckload volumes appeared to remain elevated during December, according to Amit Mehrotra, managing director and head of transportation and shipping research at Deutsche Bank (NYSE: DB).The December data indicates the sequential monthly trends were in line with "typical seasonality," however off of a higher base. The firm's Sunday report to clients showed activity at Old Dominion Freight Line (NASDAQ: ODFL) terminals was down 10.1% from November to December, in line with the carrier's historical 9.8% sequential decline in shipments."Our geofencing dataset shows typical seasonality in December, but this is off very solid levels in recent months. And we also believe pricing dynamics remain very strong," Mehrotra said in the note.Mehrotra is estimating a 9% sequential decline in shipments at Saia (NASDAQ: SAIA) and XPO Logistics (NYSE: XPO), with YRC Worldwide (NASDAQ: YRCW) seeing a 14% decline during the month.Deutsche Bank's data innovation group bases its estimates on a proprietary algorithm, which analyzes mobile phone geolocation data within certain boundaries of more than 1,300 LTL terminals across the country.Mehrotra cautions that the data isn't perfect because factors like weight per shipment and yields can't be determined, but the dataset has proved to be a reliable indicator of LTL activity in the past. He noted that the firm's geofencing capabilities picked up on the surge in activity at Saia's terminals in the middle of 2020 and a "big recovery" in shipments at XPO late in the third quarter.He said the December data bodes well for XPO again. "We also have observed further progress in XPO activity levels on a year-over-year basis, which is encouraging for the outlook of the company's closely watched LTL business."Midquarter updates were positive In early December, several LTL carriers reported a continuation of positive freight trends for the first two months of the fourth quarter.Saia reported a 7.3% year-over-year increase in November tonnage, following a 5.7% increase during October. Old Dominion's 5.2% year-over-year November tonnage increase followed a 2.2% tick higher in October. Combined with improvements in revenue per hundredweight, Old Dominion's revenue increased 6.3% in November after improving 2.6% in October.YRC saw modest increases in volumes, with tonnage climbing roughly 2% for each of the first two months of the fourth quarter. ArcBest (NASDAQ: ARCB) reported that LTL tonnage in its asset-based segment increased in the double-digit range in November, similar to the increase it reported for October.Deutsche Bank's geofencing data does not include ArcBest's terminals.Industrial activity advancing The Manufacturing Purchasing Managers' Index (PMI) jumped to 60.7% in December, up 3.2 percentage points from November and the seventh straight month of expansion. A reading above 50% indicates expansion in the U.S. manufacturing sector.Manufacturing activity can account for up to 85% of LTL tonnage for some carriers. LTL demand has a high correlation to PMI data, with volumes lagging the index by roughly three months.The new orders subindex climbed 2.8 percentage points to 67.9%, and the production component moved 4 points higher to 64.8%. Additionally, customers' inventories remained "too low" at 37.9%, which is considered a positive sign for future production."The bottom line is the LTL industry [and the railroads] sit at the very top of our preference list as it relates to our 2021 outlook ... which reflects our strong positive stance on the outlook for U.S. industrial activity in 2021," Mehrotra added. He went on to say XPO and Saia are the stocks with the most upside, and that Old Dominion is "well positioned."Click for more FreightWaves articles by Todd Maiden. * Uber's shares sag on report of large sale * UBS 2021 outlook calls for healthy freight flows in first half * Transportation capacity loosens modestly in December, rates remain elevatedSee more from Benzinga * Click here for options trades from Benzinga * Bed, Bath & Beyond: Higher Freight Costs Spoiled The Quarter * Amazon To Add Five Facilities In Detroit(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.