Xerox Corporation (NYSE:XRX) is trading at unusually high volume Wednesday with 42 million shares changing hands. It is currently at four times its average daily volume and trading down 78 cents (-9%).
NEW YORK ( TheStreet) -- Xerox Corporation (NYSE: XRX) is trading at unusually high volume Wednesday with 42 million shares changing hands. It is currently at four times its average daily volume and trading down 78 cents (-9%) at $7.89 as of 2:15 p.m. ET. Xerox has a market cap of $12.11 billion and is part of the consumer goods sector and consumer durables industry. Shares are up 8.9% year to date as of the close of trading on Tuesday. Xerox Corporation engages in the development, manufacture, marketing, service, and finance of document equipment, software, solutions, and services worldwide. The company operates in three segments: Technology, Services, and Other. The company has a P/E ratio of 11.8, equal to the average consumer durables industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Xerox as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and attractive valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Xerox Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.