JPMorgan Chase & Co. Raises GXO Logistics (NYSE:GXO) Price Target to $66.00

Key Points

• JPMorgan Chase & Co. has raised the price target for GXO Logistics from $65.00 to $66.00, suggesting a potential upside of 20.89% based on the stock's current price.
• GXO Logistics currently holds a consensus rating of "Moderate Buy" from analysts, with eleven rating it a buy and three a hold.
• The company's recent quarterly earnings exceeded expectations, reporting $0.57 earnings per share on revenues of $3.30 billion, marking a 15.9% increase year-over-year.

GXO Logistics (NYSE:GXO - Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from $65.00 to $66.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 20.89% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of GXO Logistics from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Monday. Weiss Ratings restated a "sell (d+)" rating on shares of GXO Logistics in a research note on Wednesday. Barclays raised their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. UBS Group raised their price target on shares of GXO Logistics from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Citigroup raised their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.36.

GXO Logistics Price Performance

GXO Logistics stock traded up $0.39 during trading hours on Wednesday, reaching $54.60. 451,096 shares of the stock were exchanged, compared to its average volume of 1,351,381. The company has a market cap of $6.25 billion, a P/E ratio of 103.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics has a twelve month low of $30.46 and a twelve month high of $63.33. The stock has a 50 day moving average of $51.81 and a two-hundred day moving average of $45.55.

GXO Logistics (NYSE:GXO - Get Free Report) last announced 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. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. Equities analysts expect that GXO Logistics will post 2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd raised its holdings in GXO Logistics by 6.5% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock worth $526,532,000 after purchasing an additional 818,353 shares during the last quarter. Vanguard Group Inc. grew its position in shares of GXO Logistics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company's stock worth $444,365,000 after buying an additional 37,852 shares during the period. Dimensional Fund Advisors LP grew its position in shares of GXO Logistics by 29.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock worth $141,021,000 after buying an additional 810,298 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of GXO Logistics by 27.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock worth $130,143,000 after buying an additional 708,661 shares during the period. Finally, River Road Asset Management LLC grew its position in shares of GXO Logistics by 5.4% during the 2nd quarter. River Road Asset Management LLC now owns 2,967,046 shares of the company's stock worth $147,492,000 after buying an additional 152,561 shares during the period. Institutional investors own 90.67% of the company's stock.

About GXO Logistics

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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