GXO Logistics (NYSE:GXO) Price Target Raised to $52.00

GXO Logistics (NYSE:GXO - Get Free Report) had its price target hoisted by research analysts at Barclays from $45.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price points to a potential upside of 0.57% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on GXO. Truist Financial upped their price objective on shares of GXO Logistics from $40.00 to $48.00 and gave the stock a "hold" rating in a report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday. Susquehanna restated a "positive" rating and set a $58.00 price objective (up previously from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Finally, Citigroup raised their target price on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.43.

GXO Logistics Price Performance

Shares of NYSE GXO traded up $1.41 during midday trading on Thursday, hitting $51.70. 469,956 shares of the company's stock were exchanged, compared to its average volume of 1,336,613. The business's fifty day moving average price is $43.37 and its two-hundred day moving average price is $41.27. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 83.57, a PEG ratio of 2.32 and a beta of 1.64. GXO Logistics has a 12-month low of $30.46 and a 12-month high of $63.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The firm's revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, research analysts forecast that GXO Logistics will post 2.49 EPS for the current fiscal year.

Institutional Trading of GXO Logistics

Several large investors have recently modified their holdings of the business. Kovitz Investment Group Partners LLC boosted its holdings in shares of GXO Logistics by 28,112.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock valued at $114,036,000 after purchasing an additional 2,612,223 shares during the last quarter. Alliancebernstein L.P. boosted its holdings 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 valued at $98,141,000 after purchasing an additional 2,356,452 shares during the last quarter. Norges Bank acquired a new position in shares of GXO Logistics in the 4th quarter valued at $55,266,000. Spruce House Investment Management LLC boosted its holdings in shares of GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of GXO Logistics in the 4th quarter valued at $46,523,000. 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.

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