GXO Logistics (NYSE:GXO) Price Target Raised to $65.00

Key Points

• GXO Logistics had its price target raised by Wells Fargo & Company from $60.00 to $65.00, indicating a potential upside of 21.18% from its current price.
• Other analysts, including Goldman Sachs and Barclays, have also increased their price targets, with Goldman Sachs raising theirs from $52.00 to $68.00.
• The company reported $3.30 billion in revenue for the last quarter, exceeding analysts' expectations and showing a 15.9% year-over-year increase.

GXO Logistics (NYSE:GXO - Get Free Report) had its target price raised by research analysts at Wells Fargo & Company from $60.00 to $65.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 21.18% from the stock's current price.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group upgraded GXO Logistics from a "neutral" rating to a "buy" rating and increased their price target for the stock from $52.00 to $68.00 in a report on Wednesday, September 24th. Weiss Ratings reiterated a "sell (d+)" rating on shares of GXO Logistics in a report on Saturday, September 27th. Barclays raised their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Oppenheimer raised their target price on GXO Logistics from $55.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus raised their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.29.

GXO Logistics Price Performance

GXO stock traded down $0.09 during midday trading on Monday, reaching $53.64. 72,602 shares of the stock were exchanged, compared to its average volume of 1,352,716. The stock has a market capitalization of $6.14 billion, a PE ratio of 101.07, a P/E/G ratio of 2.15 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The company has a fifty day moving average price of $51.70 and a 200 day moving average price of $45.38. GXO Logistics has a 52 week low of $30.46 and a 52 week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The business had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that GXO Logistics will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

A number of institutional investors have recently made changes to their positions in GXO. Janney Montgomery Scott LLC grew its holdings in shares of GXO Logistics by 13.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company's stock valued at $674,000 after purchasing an additional 2,076 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in GXO Logistics by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company's stock valued at $1,512,000 after acquiring an additional 886 shares in the last quarter. KBC Group NV boosted its holdings in GXO Logistics by 20.0% in the first quarter. KBC Group NV now owns 5,821 shares of the company's stock valued at $227,000 after acquiring an additional 969 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of GXO Logistics by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 274,832 shares of the company's stock valued at $10,740,000 after purchasing an additional 831 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of GXO Logistics by 57.0% during 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. Institutional investors own 90.67% of the company's stock.

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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