Wells Fargo & Company Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO - Get Free Report) had its target price boosted by investment analysts at Wells Fargo & Company from $44.00 to $48.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 12.27% from the company's current price.

Several other analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a research note on Friday, March 7th. They issued a "hold" rating and a $45.00 price objective for the company. Citigroup dropped their price objective on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial reduced their target price on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of "Moderate Buy" and an average price target of $54.86.

GXO Logistics Trading Up 0.0%

GXO opened at $42.76 on Friday. The company has a market cap of $4.89 billion, a P/E ratio of 68.96, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The company has a fifty day moving average price of $39.26 and a two-hundred day moving average price of $41.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. GXO Logistics has a 1-year low of $30.46 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping 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 business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business earned $0.45 EPS. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. Analysts predict that GXO Logistics will post 2.49 EPS for the current fiscal year.

Institutional Trading of GXO Logistics

A number of large investors have recently bought and sold shares of GXO. Sterling Capital Management LLC increased its holdings in GXO Logistics by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock worth $303,000 after acquiring an additional 2,482 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of GXO Logistics in the fourth quarter valued at approximately $1,255,000. Raymond James Financial Inc. purchased a new stake in shares of GXO Logistics during the 4th quarter valued at approximately $20,905,000. Quantinno Capital Management LP boosted its holdings in GXO Logistics by 32.8% in the 4th quarter. Quantinno Capital Management LP now owns 6,901 shares of the company's stock worth $300,000 after buying an additional 1,704 shares during the period. Finally, Rhumbline Advisers grew its stake in GXO Logistics by 3.2% in the 4th quarter. Rhumbline Advisers now owns 329,829 shares of the company's stock valued at $14,348,000 after buying an additional 10,159 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

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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