JPMorgan Chase & Co. Forecasts Strong Price Appreciation for GXO Logistics (NYSE:GXO) Stock

GXO Logistics (NYSE:GXO - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $52.00 to $56.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 11.17% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Truist Financial increased their target price on GXO Logistics from $40.00 to $48.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company increased their price target on GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research note on Monday. Susquehanna reaffirmed a "positive" rating and issued a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus raised 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. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, GXO Logistics has an average rating of "Moderate Buy" and a consensus target price of $54.93.

GXO Logistics Trading Up 1.0%

GXO stock traded up $0.48 during trading on Tuesday, reaching $50.38. The company had a trading volume of 199,041 shares, compared to its average volume of 1,522,752. GXO Logistics has a 52 week low of $30.46 and a 52 week high of $63.33. The company has a market cap of $5.76 billion, a P/E ratio of 81.25, a PEG ratio of 2.36 and a beta of 1.64. The business has a 50 day moving average of $42.79 and a 200 day moving average of $41.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78.

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

Hedge Funds Weigh In On GXO Logistics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC increased its stake in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GXO Logistics by 57.0% in the first 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. Golden State Wealth Management LLC acquired a new position in GXO Logistics during the first quarter worth $34,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of GXO Logistics by 72.1% in the first 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 in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in GXO Logistics in the fourth quarter valued at $41,000. 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.

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