UBS Group Cuts GXO Logistics (NYSE:GXO) Price Target to $66.00

GXO Logistics (NYSE:GXO) had its target price cut by UBS Group from $71.00 to $66.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on GXO. Stifel Nicolaus reiterated a buy rating and issued a $74.00 price objective on shares of GXO Logistics in a research note on Wednesday, May 15th. Wells Fargo & Company assumed coverage on GXO Logistics in a research note on Friday, June 7th. They issued an overweight rating and a $58.00 price objective on the stock. Morgan Stanley restated an overweight rating and set a $70.00 target price on shares of GXO Logistics in a research report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on GXO Logistics from $61.00 to $63.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Finally, Loop Capital dropped their target price on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $68.58.

GXO Logistics Stock Down 1.2 %

GXO traded down $0.56 during midday trading on Wednesday, reaching $47.75. 738,091 shares of the company were exchanged, compared to its average volume of 857,640. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94. The company’s fifty day moving average price is $50.79 and its 200 day moving average price is $51.52. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.60. GXO Logistics has a one year low of $46.38 and a one year high of $65.75.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. GXO Logistics’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, analysts expect that GXO Logistics will post 2.78 EPS for the current year.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, CEO Malcolm Wilson purchased 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the transaction, the chief executive officer now directly owns 100,814 shares in the company, valued at approximately $5,035,659.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Institutional Trading of GXO Logistics

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in GXO Logistics in the fourth quarter worth about $59,000. Mather Group LLC. increased its stake in shares of GXO Logistics by 170.7% during the second quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after purchasing an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of GXO Logistics by 920.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after purchasing an additional 1,151 shares in the last quarter. Motco increased its stake in shares of GXO Logistics by 2,836.4% during the first quarter. Motco now owns 1,292 shares of the company’s stock valued at $69,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Smithfield Trust Co raised its holdings in 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. 90.67% of the stock is currently 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.