GXO Logistics Inc (NYSE:GXO) has been assigned a consensus recommendation of “Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $101.29.
Several equities research analysts recently issued reports on the company. Truist lifted their price objective on GXO Logistics from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, November 3rd. Wells Fargo & Company boosted their target price on GXO Logistics from $93.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, November 3rd. JPMorgan Chase & Co. began coverage on GXO Logistics in a report on Thursday, September 16th. They set an “overweight” rating and a $107.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on GXO Logistics from $99.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, November 5th. Finally, Zacks Investment Research upgraded GXO Logistics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 12th.
A number of hedge funds and other institutional investors have recently made changes to their positions in GXO. BlackRock Inc. purchased a new stake in GXO Logistics in the third quarter valued at approximately $671,977,000. Dimensional Fund Advisors LP purchased a new stake in GXO Logistics in the third quarter valued at approximately $164,798,000. Lyrical Asset Management LP purchased a new stake in GXO Logistics in the third quarter valued at approximately $154,846,000. American Century Companies Inc. purchased a new stake in shares of GXO Logistics during the third quarter worth $144,731,000. Finally, Geode Capital Management LLC purchased a new stake in shares of GXO Logistics during the third quarter worth $93,151,000. 2.62% of the stock is currently owned by institutional investors.
GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Sunday, October 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.90 billion. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities analysts forecast that GXO Logistics will post 2.01 EPS for the current fiscal year.
About GXO Logistics
GXO Logistics Inc is a pure-play contract logistics provider. GXO Logistics Inc is headquartered in Conn., USA.
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