GXO Logistics (NYSE:GXO) Upgraded at Truist Financial

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

Several other equities research analysts have also recently commented on the company. Susquehanna restated a "positive" rating and set a $58.00 price target (up previously from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Citigroup upped their price target on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Stifel Nicolaus upped their price target on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $57.43.

GXO Logistics Stock Performance

NYSE GXO traded up $0.36 on Friday, reaching $52.13. The stock had a trading volume of 1,087,491 shares, compared to its average volume of 1,341,802. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78. GXO Logistics has a 12-month low of $30.46 and a 12-month high of $63.33. The business's 50-day moving average price is $43.96 and its 200 day moving average price is $41.38. The stock has a market cap of $5.96 billion, a P/E ratio of 84.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating 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 quarter in the previous year, the business earned $0.45 earnings per share. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities analysts expect that GXO Logistics will post 2.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GXO. Orbis Allan Gray Ltd grew its holdings in GXO Logistics by 6.5% in the first quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock valued at $526,532,000 after purchasing an additional 818,353 shares during the last quarter. Vanguard Group Inc. grew its holdings in GXO Logistics by 0.3% in the first quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company's stock valued at $444,365,000 after purchasing an additional 37,852 shares during the last quarter. Clearbridge Investments LLC grew its holdings in GXO Logistics by 3.8% in the fourth quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock valued at $183,924,000 after purchasing an additional 153,522 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in GXO Logistics by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after purchasing an additional 810,298 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in GXO Logistics by 27.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock valued at $130,143,000 after purchasing an additional 708,661 shares during the last quarter. 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.