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Why Xerox (XRX) Hit a One-Year High Today

NEW YORK (TheStreet) -- Xerox Corp. (XRX - Get Report) was rising 1.5% to $12.17 on Monday afternoon after the company named Jeff Jacobson as its new Chief Operating Officer of Xerox Technology and Andrew Copley as president of Xerox Graphic Communications Operations.

As of 3:45 p.m. EST, the company had hit a one-year high of $12.29 and amassed a volume of more than 15 million compared to its average of 10,311,900. 

"Driving competitiveness and achieving benchmark operational excellence are critical planks of our technology business strategy," Jacobson said in a company statement. "These changes reflect that commitment as well as our continued focus on the graphic communications industry."

Jacobson will prioritize the strengthening of Xerox's hardware and software portfolios, increase supply chain efficiency and improve results in the Technology Global Shared Services and Graphic Communications Operations groups. He joined the company in Feb. 2012 after he worked at Presstek, where he was the president and CEO since 2007.

Copley, meanwhile, will oversee "worldwide strategy, operations, product development, marketing, sales and support for go-to-market and graphic communications customers," according to the statement. He will focus his energies on improving Xerox's cut-sheet and inkjet portfolios to enhance customers' digital transition through software and services and to simplify and optimize overall global graphic communications operations.      

Copley, who has worked in the commercial print industry for 25 years, joined Xerox in 2012 as the Senior Vice President of Xerox Graphic Communications Business Group after he worked as the Chief Commercial Officer of Precision Valve Technologies. 

TheStreet Ratings team rates Xerox as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

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"We rate XEROX CORP (XRX) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations, notable return on equity, increase in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 66.89% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, XRX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • Net operating cash flow has significantly increased by 61.78% to $961.00 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 45.03%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Office Electronics industry and the overall market on the basis of return on equity, XEROX CORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • The net income growth from the same quarter one year ago has exceeded that of the Office Electronics industry average, but is less than that of the S&P 500. The net income increased by 1.4% when compared to the same quarter one year prior, going from $282.00 million to $286.00 million.
  • Despite the weak revenue results, XRX has outperformed against the industry average of 13.9%. Since the same quarter one year prior, revenues slightly dropped by 0.2%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • You can view the full analysis from the report here: XRX Ratings Report

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