GXO Logistics (NYSE:GXO) Price Target Raised to $62.00 at Oppenheimer

Key Points

• Oppenheimer raised the price target for GXO Logistics from $55.00 to $62.00, suggesting a potential upside of 20.04% from its previous close.
• Several other analysts have also increased their price targets for GXO, with a consensus rating of "Moderate Buy" and an average target price of $58.07.
• The company's recent quarterly earnings report showed a profit of $0.57 EPS, exceeding analyst expectations and reflecting a 15.9% increase in revenue year-over-year.

GXO Logistics (NYSE:GXO - Free Report) had its target price hoisted by Oppenheimer from $55.00 to $62.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

GXO has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on shares of GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Stifel Nicolaus raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Citigroup raised their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and raised their price target for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. Four research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.50.

GXO Logistics Stock Down 1.1%

Shares of NYSE:GXO traded down $0.58 during trading on Thursday, reaching $50.35. 904,905 shares of the stock traded hands, compared to its average volume of 1,110,263. The stock has a 50-day moving average of $48.13 and a two-hundred day moving average of $42.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.78 and a current ratio of 0.76. GXO Logistics has a 52-week low of $30.46 and a 52-week high of $63.33. The stock has a market cap of $5.76 billion, a P/E ratio of 95.00, a price-to-earnings-growth ratio of 1.85 and a beta of 1.64.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LPL Financial LLC lifted its position in shares of GXO Logistics by 59.6% in the fourth quarter. LPL Financial LLC now owns 58,454 shares of the company's stock valued at $2,551,000 after acquiring an additional 21,824 shares in the last quarter. Franklin Resources Inc. lifted its holdings in 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 lifted its holdings in 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 lifted its holdings 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in GXO Logistics in the 4th quarter worth approximately $20,905,000. Hedge funds and other 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.