UBS Group Lowers GXO Logistics (NYSE:GXO) Price Target to $66.00

GXO Logistics (NYSE:GXO) had its target price cut by analysts at UBS Group from $71.00 to $66.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 36.70% from the stock’s current price.

GXO has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price target on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price on shares of GXO Logistics in a research note on Tuesday, May 14th. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. TD Cowen increased their price objective on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company assumed coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.58.

GXO Logistics Price Performance

GXO traded up $0.80 during midday trading on Wednesday, reaching $48.28. 258,362 shares of the company’s stock were exchanged, compared to its average volume of 853,713. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 1.63 and a beta of 1.60. The business has a 50-day simple moving average of $50.88 and a two-hundred day simple moving average of $51.67. GXO Logistics has a one year low of $46.38 and a one year high of $65.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 EPS. As a group, research analysts predict that GXO Logistics will post 2.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Malcolm Wilson purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the purchase, the chief executive officer now directly owns 100,814 shares in the company, valued at $5,035,659.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GXO Logistics

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in GXO Logistics during the fourth quarter worth approximately $554,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in GXO Logistics by 6.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,938 shares of the company’s stock valued at $1,586,000 after purchasing an additional 1,595 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of GXO Logistics during the 4th quarter worth approximately $879,000. Moody Aldrich Partners LLC bought a new position in shares of GXO Logistics during the fourth quarter worth approximately $352,000. Finally, Impax Asset Management Group plc raised its position in shares of GXO Logistics by 64.7% in the fourth quarter. Impax Asset Management Group plc now owns 12,295 shares of the company’s stock valued at $752,000 after buying an additional 4,828 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Company Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.