GXO Logistics (NYSE:GXO) Price Target Raised to $65.00

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 raised by stock analysts at JPMorgan Chase & Co. from $56.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 29.66% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays lifted their price target on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Stifel Nicolaus upped their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Oppenheimer upped their price objective on GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Citigroup upped their price objective on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, GXO Logistics has an average rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded down $0.20 during trading on Thursday, hitting $50.13. 1,358,425 shares of the company were exchanged, compared to its average volume of 1,112,388. The company has a market cap of $5.74 billion, a PE ratio of 94.59, a P/E/G ratio of 1.83 and a beta of 1.64. The stock has a 50 day moving average of $48.33 and a 200 day moving average of $42.35. GXO Logistics has a 52-week low of $30.46 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that GXO Logistics will post 2.49 EPS for the current year.

Institutional Trading of GXO Logistics

Several large investors have recently modified their holdings of GXO. LPL Financial LLC lifted its holdings in shares of GXO Logistics by 59.6% during the fourth quarter. LPL Financial LLC now owns 58,454 shares of the company's stock valued at $2,551,000 after purchasing an additional 21,824 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of GXO Logistics by 1,523.9% in the 4th quarter. Franklin Resources Inc. now owns 86,020 shares of the company's stock worth $3,742,000 after purchasing an additional 80,723 shares in the last quarter. Bank of Montreal Can boosted its position in shares of GXO Logistics by 27.4% in the 4th quarter. Bank of Montreal Can now owns 24,112 shares of the company's stock worth $1,049,000 after purchasing an additional 5,184 shares in the last quarter. FIL Ltd boosted its position in shares of 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of GXO Logistics in the 4th quarter worth approximately $20,905,000. 90.67% of the stock is owned by institutional investors.

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.