GXO Logistics (NYSE:GXO) Price Target Raised to $83.00

GXO Logistics (NYSE:GXO) had its price target lifted by research analysts at TD Cowen from $82.00 to $83.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 36.38% from the company’s current price.

GXO has been the subject of several other research reports. UBS Group decreased their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Susquehanna cut their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

GXO Logistics Stock Performance

Shares of GXO traded up $3.16 on Wednesday, reaching $60.86. 752,227 shares of the company’s stock traded hands, compared to its average volume of 927,014. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $7.27 billion, a PE ratio of 52.02, a PEG ratio of 1.75 and a beta of 1.55. The stock’s 50 day simple moving average is $54.28 and its two-hundred day simple moving average is $51.85. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. GXO Logistics’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. On average, analysts forecast that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of GXO Logistics by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock worth $603,636,000 after acquiring an additional 82,485 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after purchasing an additional 648,547 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of GXO Logistics by 0.5% in the first quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock worth $158,967,000 after purchasing an additional 15,463 shares during the last quarter. Fort Pitt Capital Group LLC grew its holdings in shares of GXO Logistics by 2.1% in 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 last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

About GXO Logistics

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.