Short Interest in GXO Logistics, Inc. (NYSE:GXO) Rises By 12.3%

GXO Logistics, Inc. (NYSE:GXO) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,640,000 shares, an increase of 12.3% from the December 15th total of 3,240,000 shares. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 3.1% of the company’s stock are short sold.

Institutional Investors Weigh In On GXO Logistics

Large investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of GXO Logistics by 1.9% during the 3rd quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after acquiring an additional 66,232 shares during the period. Fort Pitt Capital Group LLC boosted its position in GXO Logistics by 2.1% during the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after purchasing an additional 51,208 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of GXO Logistics by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock worth $121,140,000 after purchasing an additional 240,766 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GXO Logistics by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock valued at $103,279,000 after purchasing an additional 29,992 shares during the period. Finally, Eminence Capital LP purchased a new stake in shares of GXO Logistics during the 2nd quarter valued at approximately $79,698,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GXO shares. TD Cowen increased their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays dropped their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Citigroup started coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. UBS Group raised their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer increased their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

GXO Logistics Stock Down 0.9 %

GXO stock opened at $43.98 on Monday. GXO Logistics has a 1-year low of $41.38 and a 1-year high of $63.33. The stock has a market cap of $5.25 billion, a P/E ratio of 48.86, a P/E/G ratio of 1.10 and a beta of 1.60. The stock’s fifty day simple moving average is $50.21 and its two-hundred day simple moving average is $52.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $0.69 EPS. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Analysts expect that GXO Logistics will post 2.74 EPS for the current year.

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.