GXO Logistics (NYSE:GXO) Price Target Lowered to $58.00 at Morgan Stanley

Key Points

• Morgan Stanley has reduced the price target for GXO Logistics from $60.00 to $58.00, maintaining an "overweight" rating which indicates a potential upside of 7.99% from the stock's previous close.
• The consensus rating for GXO Logistics is currently a "Moderate Buy" with a consensus price target of $60.93, reflecting a mixture of ratings from analysts.
• GXO Logistics reported a 15.9% increase in revenue year-over-year, achieving earnings of $0.57 per share for the last quarter, surpassing analysts' expectations.

GXO Logistics (NYSE:GXO - Get Free Report) had its price target decreased by research analysts at Morgan Stanley from $60.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 7.99% from the stock's previous close.

A number of other analysts have also recently issued reports on GXO. Weiss Ratings reissued a "sell (d+)" rating on shares of GXO Logistics in a research note on Saturday, September 27th. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Susquehanna lifted their price target on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Stifel Nicolaus boosted their target price on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Barclays boosted their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, GXO Logistics currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.93.

GXO Logistics Trading Down 0.0%

Shares of GXO stock traded down $0.02 during trading hours on Monday, reaching $53.71. The company had a trading volume of 40,733 shares, compared to its average volume of 1,352,655. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. GXO Logistics has a 1-year low of $30.46 and a 1-year high of $63.33. The company has a 50 day moving average of $51.70 and a 200 day moving average of $45.38. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 101.34, a P/E/G ratio of 2.15 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company's revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities research analysts anticipate that GXO Logistics will post 2.49 EPS for the current year.

Institutional Trading of GXO Logistics

Several institutional investors have recently added to or reduced their stakes in GXO. Alliancebernstein L.P. lifted its position in shares of GXO Logistics by 1,521.9% in the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company's stock worth $98,141,000 after purchasing an additional 2,356,452 shares during the period. Engaged Capital LLC bought a new stake in GXO Logistics in the first quarter valued at $35,641,000. Orbis Allan Gray Ltd raised its stake in GXO Logistics by 6.5% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock worth $526,532,000 after buying an additional 818,353 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of GXO Logistics by 29.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after acquiring an additional 810,298 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of GXO Logistics by 66.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock worth $71,102,000 after purchasing an additional 724,535 shares in the last quarter. 90.67% of the stock is currently owned by 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.

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