GXO Logistics (NYSE:GXO) Shares Break Above 200 Day Moving Average - Here's What Happened

Key Points

• GXO Logistics shares moved above their 200-day moving average, reaching $52.67 before last trading at $52.06, compared with the $51.80 long-term average.
• Analysts remain broadly optimistic: 13 rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of $63.29.
• The company’s latest quarterly results modestly exceeded expectations on earnings, reporting $0.59 EPS versus a $0.58 consensus estimate, while revenue rose 4.3% year over year to $3.44 billion.

GXO Logistics, Inc. (NYSE:GXO - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $51.80 and traded as high as $52.67. GXO Logistics shares last traded at $52.0630, with a volume of 2,384,089 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on GXO shares. Weiss Ratings upgraded GXO Logistics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 16th. Oppenheimer set a $61.00 price target on shares of GXO Logistics in a research report on Thursday, August 6th. Susquehanna reduced their price target on shares of GXO Logistics from $62.00 to $60.00 and set a "positive" rating on the stock in a research report on Friday, October 2nd. Stephens began coverage on shares of GXO Logistics in a research note on Wednesday, July 8th. They set an "overweight" rating and a $75.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of GXO Logistics from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $63.29.

GXO Logistics Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.81. The business has a 50 day simple moving average of $46.99 and a two-hundred day simple moving average of $51.80. The firm has a market cap of $5.97 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. GXO Logistics had a net margin of 0.96% and a return on equity of 10.57%. The company had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the previous year, the company earned $0.57 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that GXO Logistics, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GXO. GAMMA Investing LLC increased its position in GXO Logistics by 14.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,841 shares of the company's stock valued at $82,000 after purchasing an additional 231 shares during the period. Parallel Advisors LLC raised its holdings in shares of GXO Logistics by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 2,723 shares of the company's stock valued at $141,000 after purchasing an additional 233 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of GXO Logistics by 9.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,849 shares of the company's stock worth $127,000 after purchasing an additional 245 shares during the period. Hsbc Holdings PLC lifted its position in shares of GXO Logistics by 3.0% in the 1st quarter. Hsbc Holdings PLC now owns 11,953 shares of the company's stock worth $620,000 after purchasing an additional 352 shares during the period. Finally, R Squared Ltd lifted its position in shares of GXO Logistics by 8.3% in the 1st quarter. R Squared Ltd now owns 4,932 shares of the company's stock worth $256,000 after purchasing an additional 377 shares during the period. Institutional investors own 90.67% of the company's stock.

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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