Short Interest in GXO Logistics, Inc. (NYSE:GXO) Declines By 12.3%

GXO Logistics, Inc. (NYSE:GXO) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,360,000 shares, a drop of 12.3% from the November 15th total of 2,690,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.0% of the company’s shares are short sold.

Institutional Trading of GXO Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of GXO. DekaBank Deutsche Girozentrale bought a new stake in GXO Logistics during the 3rd quarter worth approximately $28,000. UMB Bank n.a. lifted its holdings in shares of GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after purchasing an additional 331 shares during the period. Signaturefd LLC grew its stake in shares of GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares during the last quarter. Hara Capital LLC acquired a new stake in GXO Logistics in the third quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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. Oppenheimer boosted their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. UBS Group increased their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen raised their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

GXO Logistics Price Performance

GXO stock traded down $0.35 during midday trading on Friday, reaching $48.51. The company had a trading volume of 1,043,830 shares, compared to its average volume of 959,200. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 53.90, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The stock has a 50 day moving average price of $58.08 and a 200-day moving average price of $53.00.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that GXO Logistics will post 2.76 earnings per share for the current year.

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.