GXO Logistics (NYSE:GXO) Stock Price Expected to Rise, Citigroup Analyst Says

GXO Logistics (NYSE:GXO - Free Report) had its price target hoisted by Citigroup from $56.00 to $59.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Susquehanna reiterated a "positive" rating and issued a $58.00 price target (up from $57.00) on shares of GXO Logistics in a report on Tuesday, June 24th. Wells Fargo & Company boosted their price target on GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a report on Monday. Truist Financial boosted their price target on GXO Logistics from $40.00 to $48.00 and gave the company a "hold" rating in a report on Monday, June 30th. JPMorgan Chase & Co. boosted their price target on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their price target on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.93.

GXO Logistics Price Performance

Shares of NYSE GXO traded up $0.29 during trading on Wednesday, reaching $50.53. The company had a trading volume of 1,038,651 shares, compared to its average volume of 1,339,973. GXO Logistics has a twelve month low of $30.46 and a twelve month high of $63.33. The stock has a market capitalization of $5.78 billion, a PE ratio of 81.50, a price-to-earnings-growth ratio of 2.32 and a beta of 1.64. The stock has a 50-day moving average price of $43.37 and a two-hundred day moving average price of $41.27. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The company had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that GXO Logistics will post 2.49 earnings per share for the current year.

Institutional Trading of GXO Logistics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of GXO Logistics by 10.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,046 shares of the company's stock worth $100,000 after buying an additional 197 shares during the last quarter. Arizona State Retirement System increased its holdings in GXO Logistics by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock valued at $1,508,000 after purchasing an additional 281 shares in the last quarter. State of Michigan Retirement System increased its holdings in GXO Logistics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock valued at $1,119,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in GXO Logistics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company's stock valued at $1,309,000 after purchasing an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

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.