Truist Financial Raises GXO Logistics (NYSE:GXO) Price Target to $48.00

GXO Logistics (NYSE:GXO - Get Free Report) had its price objective lifted by research analysts at Truist Financial from $40.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential downside of 1.58% from the company's current price.

A number of other brokerages have also recently commented on GXO. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research note on Friday, March 7th. They set a "hold" rating and a $45.00 price target on the stock. Susquehanna reaffirmed a "positive" rating and issued a $58.00 price target (up from $57.00) on shares of GXO Logistics in a report on Tuesday, June 24th. Citigroup dropped their price objective on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on GXO Logistics from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, Stifel Nicolaus upped their price target on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, GXO Logistics has a consensus rating of "Moderate Buy" and a consensus price target of $54.79.

GXO Logistics Stock Performance

NYSE:GXO traded down $0.23 during trading on Monday, reaching $48.77. The company's stock had a trading volume of 1,035,623 shares, compared to its average volume of 1,332,883. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78. GXO Logistics has a 12 month low of $30.46 and a 12 month high of $63.33. The firm has a 50 day moving average of $41.00 and a 200-day moving average of $40.94.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The firm had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts expect that GXO Logistics will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

Large investors have recently modified their holdings of the company. Larson Financial Group LLC grew its position in GXO Logistics by 2,460.7% during the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after acquiring an additional 689 shares during the last quarter. GAMMA Investing LLC raised its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after purchasing an additional 302 shares during the period. Golden State Wealth Management LLC bought a new stake in GXO Logistics in the first quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its position in GXO Logistics by 72.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after buying an additional 396 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in GXO Logistics during the fourth quarter valued at about $41,000. 90.67% of the stock is owned by hedge funds and other 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.