GXO Logistics (NYSE:GXO) Upgraded by Truist Financial to Buy Rating

Truist Financial upgraded shares of GXO Logistics (NYSE:GXO - Free Report) from a hold rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $62.00 price objective on the stock, up from their previous price objective of $48.00.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday. Citigroup increased their target price on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays increased their target price on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday. Stifel Nicolaus increased their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Wells Fargo & Company increased their target price on GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, GXO Logistics has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

GXO Logistics Price Performance

NYSE GXO traded up $0.06 during trading on Friday, hitting $51.72. 862,410 shares of the company's stock were exchanged, compared to its average volume of 1,340,610. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.92 billion, a PE ratio of 83.42, a P/E/G ratio of 1.88 and a beta of 1.64. GXO Logistics has a fifty-two week low of $30.46 and a fifty-two week high of $63.33. The stock's 50 day moving average price is $43.96 and its two-hundred day moving average price is $41.40.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Research analysts expect that GXO Logistics will post 2.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in GXO Logistics by 10.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,046 shares of the company's stock worth $100,000 after purchasing an additional 197 shares during the period. State of Michigan Retirement System lifted its position 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 worth $1,119,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its position 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 worth $1,309,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after buying an additional 302 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in GXO Logistics by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock worth $2,245,000 after purchasing an additional 330 shares during the period. Institutional investors 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.