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

Key Points

• JPMorgan Chase & Co. raised its price target for GXO Logistics from $56.00 to $65.00, indicating a potential upside of 27.51% based on current prices and maintaining an "overweight" rating on the stock.
• Several other financial institutions have also increased their price targets for GXO, with a consensus rating of "Moderate Buy" and an average price target of $59.50.
• GXO Logistics achieved a quarterly revenue of $3.30 billion, surpassing estimates, and reported earnings per share of $0.57 for the quarter, indicating year-over-year growth.

GXO Logistics (NYSE:GXO - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $56.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 27.51% from the company's current price.

A number of other equities analysts have also recently issued reports on GXO. Barclays upped 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, July 10th. Citigroup upped their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Susquehanna increased their price objective on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a report on Thursday. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and upped their price target for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Finally, Stifel Nicolaus increased 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. 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, GXO Logistics presently has a consensus rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics Trading Up 1.0%

Shares of GXO stock traded up $0.49 during trading hours on Thursday, reaching $50.98. The company had a trading volume of 1,364,915 shares, compared to its average volume of 1,460,645. The company has a 50 day moving average of $47.76 and a 200 day moving average of $42.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 96.18, a P/E/G ratio of 1.79 and a beta of 1.64. GXO Logistics has a 1-year low of $30.46 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.41% and a net margin of 0.50%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that GXO Logistics will post 2.49 EPS for the current year.

Institutional Trading of GXO Logistics

Several institutional investors have recently added to or reduced their stakes in GXO. LPL Financial LLC grew its holdings in GXO Logistics by 59.6% in the 4th quarter. LPL Financial LLC now owns 58,454 shares of the company's stock worth $2,551,000 after buying an additional 21,824 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of GXO Logistics by 1,523.9% during the 4th quarter. Franklin Resources Inc. now owns 86,020 shares of the company's stock worth $3,742,000 after acquiring an additional 80,723 shares in the last quarter. Bank of Montreal Can lifted its stake in GXO Logistics by 27.4% during the fourth quarter. Bank of Montreal Can now owns 24,112 shares of the company's stock valued at $1,049,000 after buying an additional 5,184 shares in the last quarter. FIL Ltd boosted its stake in GXO Logistics by 53.3% in the 4th quarter. FIL Ltd now owns 338,548 shares of the company's stock worth $14,727,000 after purchasing an additional 117,673 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in GXO Logistics during the 4th quarter valued at about $20,905,000. 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.

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