TD Cowen Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price target raised by TD Cowen from $82.00 to $83.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

GXO has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Susquehanna decreased their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Citigroup assumed coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. Finally, UBS Group reduced their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.55.

GXO Logistics Trading Down 1.1 %

Shares of NYSE:GXO traded down $0.67 during midday trading on Wednesday, hitting $59.75. 640,761 shares of the stock were exchanged, compared to its average volume of 1,875,850. The business’s 50-day moving average price is $54.95 and its 200 day moving average price is $52.04. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 66.39, a P/E/G ratio of 1.84 and a beta of 1.55. GXO Logistics has a 12 month low of $46.07 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.

GXO Logistics (NYSE:GXO) last announced its earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. Analysts predict that GXO Logistics will post 2.78 earnings per share for the current year.

Institutional Investors Weigh In On GXO Logistics

Several hedge funds have recently bought and sold shares of the stock. Mount Lucas Management LP raised its holdings in shares of GXO Logistics by 2.4% during the 3rd quarter. Mount Lucas Management LP now owns 7,327 shares of the company’s stock valued at $382,000 after buying an additional 173 shares in the last quarter. Mathes Company Inc. raised its stake in shares of GXO Logistics by 0.7% during the third quarter. Mathes Company Inc. now owns 25,475 shares of the company’s stock worth $1,326,000 after acquiring an additional 175 shares in the last quarter. Smithfield Trust Co lifted its holdings in shares of GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after acquiring an additional 195 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of GXO Logistics by 7.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,064 shares of the company’s stock valued at $160,000 after purchasing an additional 220 shares in the last quarter. Finally, CWM LLC lifted its stake in GXO Logistics by 13.8% in the third quarter. CWM LLC now owns 1,961 shares of the company’s stock worth $102,000 after purchasing an additional 238 shares during the last quarter. 90.67% of the stock is currently owned by 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.