Susquehanna Raises GXO Logistics (NYSE:GXO) Price Target to $60.00

Key Points

• GXO Logistics' price target has been raised by analysts at Susquehanna from $58.00 to $60.00, indicating a potential upside of 18.79% from its current price.
• The company recently reported a quarterly earnings per share of $0.57, beating the consensus estimate, with revenue reaching $3.30 billion, up 15.9% year-over-year.
• GXO Logistics holds a consensus rating of "Moderate Buy" with various analysts giving buy ratings and raising target prices, indicating strong institutional interest in the stock.

GXO Logistics (NYSE:GXO - Free Report) had its target price hoisted by Susquehanna from $58.00 to $60.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other brokerages have also recently weighed in on GXO. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays increased their target price on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wells Fargo & Company increased their target price on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and increased their target price for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Finally, Citigroup increased their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Stock Down 1.1%

GXO traded down $0.58 during trading on Thursday, hitting $50.35. The company had a trading volume of 904,905 shares, compared to its average volume of 1,110,263. The company has a market cap of $5.76 billion, a PE ratio of 95.00, a P/E/G ratio of 1.85 and a beta of 1.64. The business has a 50-day moving average of $48.13 and a 200-day moving average of $42.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.78. GXO Logistics has a 1-year low of $30.46 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.50% and a return on equity of 10.45%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, analysts forecast that GXO Logistics will post 2.49 earnings per share for the current year.

Institutional Trading of GXO Logistics

Several institutional investors and hedge funds have recently bought and sold shares of GXO. Kovitz Investment Group Partners LLC raised its holdings in GXO Logistics by 28,112.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock worth $114,036,000 after buying an additional 2,612,223 shares during the period. Alliancebernstein L.P. increased 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 period. Spruce House Investment Management LLC increased 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 period. Alyeska Investment Group L.P. acquired a new position in shares of GXO Logistics in the 4th quarter valued at about $46,523,000. Finally, Engaged Capital LLC acquired a new position in shares of GXO Logistics in the 1st quarter valued at about $35,641,000. Institutional investors and hedge funds own 90.67% of the company's stock.

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.