GXO Logistics (NYSE:GXO) Price Target Raised to $66.00

Key Points

• Citigroup raised its GXO Logistics price target from $65 to $66 and maintained a Buy rating, implying 19.36% upside from the prior close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock Buy and two rate it Hold, with a consensus target of $64.80.
• GXO topped quarterly earnings and revenue estimates, reporting EPS of $0.89 and revenue of $3.59 billion; revenue increased 5.7% year over year.

GXO Logistics (NYSE:GXO - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $65.00 to $66.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 19.36% from the company's previous close.

A number of other equities research analysts have also recently weighed in on GXO. UBS Group dropped their price target on GXO Logistics from $74.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. TD Cowen lifted their price objective on shares of GXO Logistics from $69.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company began coverage on shares of GXO Logistics in a report on Tuesday, July 28th. They issued an "overweight" rating and a $18.00 price objective on the stock. The Goldman Sachs Group upgraded shares of GXO Logistics from a "neutral" rating to a "buy" rating and set a $61.00 price objective on the stock in a report on Wednesday, October 14th. Finally, Oppenheimer increased their price objective on shares of GXO Logistics from $61.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.80.

GXO Logistics Stock Performance

GXO Logistics stock traded down $1.66 during midday trading on Thursday, reaching $55.30. 2,859,279 shares of the company's stock were exchanged, compared to its average volume of 1,362,968. GXO Logistics has a 52 week low of $43.61 and a 52 week high of $66.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 1.63 and a beta of 1.52. The stock's 50-day simple moving average is $47.28 and its 200 day simple moving average is $51.78.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. GXO Logistics had a return on equity of 10.92% and a net margin of 0.98%. The business's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. On average, analysts expect that GXO Logistics will post 3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

A number of large investors have recently made changes to their positions in GXO. Leuthold Group LLC lifted its position in GXO Logistics by 9.7% in the 3rd quarter. Leuthold Group LLC now owns 65,787 shares of the company's stock valued at $2,924,000 after acquiring an additional 5,800 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in GXO Logistics during the 3rd quarter valued at about $471,000. Ethic Inc. boosted its stake in GXO Logistics by 24.0% during the 3rd quarter. Ethic Inc. now owns 14,011 shares of the company's stock valued at $623,000 after purchasing an additional 2,709 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in GXO Logistics by 6.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 17,620 shares of the company's stock worth $783,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of GXO Logistics by 7.8% in the third quarter. Parallel Advisors LLC now owns 2,719 shares of the company's stock valued at $121,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

GXO Logistics Company Profile

GXO Logistics, Inc NYSE: GXO is a contract logistics company that manages supply chain operations for businesses worldwide. Its services include warehousing, distribution, order fulfillment, transportation management, reverse logistics, and other value-added supply chain solutions.

The company supports customers across sectors such as retail, consumer goods, technology, healthcare, and industrial manufacturing. GXO uses warehouse automation, robotics, data analytics, and other technology to help customers improve inventory management, delivery speed, and operational efficiency.

GXO was formed through the spin-off of XPO's logistics segment and began operating as an independent public company in 2021.

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