GXO Logistics (NYSE:GXO) Shares Gap Up on Analyst Upgrade

Shares of GXO Logistics, Inc. (NYSE:GXO - Get Free Report) gapped up prior to trading on Friday after Wells Fargo & Company raised their price target on the stock from $44.00 to $48.00. The stock had previously closed at $42.78, but opened at $44.71. Wells Fargo & Company currently has an overweight rating on the stock. GXO Logistics shares last traded at $47.77, with a volume of 615,372 shares changing hands.

Other equities research analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 target price for the company. Finally, Citigroup decreased their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $54.86.

Institutional Investors Weigh In On GXO Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GXO. Larson Financial Group LLC grew its position in shares of GXO Logistics by 2,460.7% during the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC raised its stake in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after buying an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of GXO Logistics during the 1st quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of GXO Logistics by 72.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after acquiring an additional 396 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in GXO Logistics in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Performance

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 $5.46 billion, a P/E ratio of 77.10, a PEG ratio of 2.03 and a beta of 1.59. The business's 50 day simple moving average is $39.26 and its 200 day simple moving average is $41.18.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the company earned $0.45 EPS. The firm's quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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.

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