GXO Logistics Sees Unusually High Options Volume (NYSE:GXO)

Key Points

• GXO call-option trading surged: Investors bought 20,867 call options on Tuesday, about 665% above the typical daily volume.
• Shares slipped 0.2% to $52.00. In its latest reported quarter, GXO’s earnings per share of $0.59 slightly beat estimates, while revenue of $3.44 billion fell short of forecasts but rose 4.3% year over year.
• Analyst sentiment was generally positive: 13 analysts rated the stock Buy and two Hold, with a consensus price target of $63.29. Institutional investors owned 90.67% of shares.

GXO Logistics, Inc. (NYSE:GXO - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 20,867 call options on the stock. This is an increase of approximately 665% compared to the typical daily volume of 2,728 call options.

Institutional Trading of GXO Logistics

Several institutional investors and hedge funds have recently made changes to their positions in GXO. Pictet Asset Management Holding SA lifted its holdings in shares of GXO Logistics by 6.5% during the third quarter. Pictet Asset Management Holding SA now owns 17,620 shares of the company's stock worth $783,000 after purchasing an additional 1,073 shares during the period. Parallel Advisors LLC grew its position in GXO Logistics by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,719 shares of the company's stock valued at $121,000 after buying an additional 196 shares during the last quarter. Pekin Hardy Strauss Inc. increased its stake in GXO Logistics by 9.5% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 165,951 shares of the company's stock valued at $7,377,000 after buying an additional 14,385 shares during the period. Covestor Ltd increased its stake in GXO Logistics by 230.6% in the 3rd quarter. Covestor Ltd now owns 1,792 shares of the company's stock valued at $80,000 after buying an additional 1,250 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in GXO Logistics by 2.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,326 shares of the company's stock worth $2,504,000 after buying an additional 1,433 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Down 0.2%

Shares of NYSE GXO traded down $0.12 during mid-day trading on Tuesday, reaching $52.00. The company had a trading volume of 1,719,025 shares, compared to its average volume of 1,332,944. The firm has a 50 day simple moving average of $46.99 and a two-hundred day simple moving average of $51.80. GXO Logistics has a 52-week low of $43.61 and a 52-week high of $66.85. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.96 billion, a P/E ratio of 46.13, a PEG ratio of 1.54 and a beta of 1.57.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.46 billion. GXO Logistics had a net margin of 0.96% and a return on equity of 10.57%. GXO Logistics's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Sell-side analysts predict that GXO Logistics will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley raised their price target on GXO Logistics from $75.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. The Goldman Sachs Group raised GXO Logistics from a "neutral" rating to a "buy" rating and set a $61.00 price objective for the company in a research report on Wednesday, October 14th. Stifel Nicolaus dropped their price objective on GXO Logistics from $71.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Weiss Ratings raised GXO Logistics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 16th. Finally, Citigroup began coverage on GXO Logistics in a research note on Wednesday, July 15th. They set a "market outperform" rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $63.29.

About GXO Logistics

GXO Logistics, Inc NYSE: GXO is a contract logistics company that manages supply chain operations for businesses worldwide. Its services include warehousing, distribution, order fulfillment, transportation management, reverse logistics, and other value-added supply chain solutions.

The company supports customers across sectors such as retail, consumer goods, technology, healthcare, and industrial manufacturing. GXO uses warehouse automation, robotics, data analytics, and other technology to help customers improve inventory management, delivery speed, and operational efficiency.

GXO was formed through the spin-off of XPO's logistics segment and began operating as an independent public company in 2021.

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