UBS Group Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price target lifted by UBS Group from $66.00 to $72.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently commented on GXO. Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Citigroup began coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, TD Cowen raised their target price on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $67.55.

GXO Logistics Trading Down 1.1 %

GXO opened at $59.75 on Wednesday. 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 current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $7.14 billion, a PE ratio of 66.39, a P/E/G ratio of 1.84 and a beta of 1.55. The firm’s fifty day moving average price is $54.95 and its 200 day moving average price is $52.06.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.69 earnings per share. GXO Logistics’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts expect that GXO Logistics will post 2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On GXO Logistics

Institutional investors and hedge funds have recently modified their holdings of the stock. Norden Group LLC acquired a new stake in GXO Logistics during the 1st quarter worth about $697,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of GXO Logistics by 25.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,591 shares of the company’s stock valued at $1,752,000 after acquiring an additional 6,653 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of GXO Logistics by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 104,108 shares of the company’s stock valued at $5,597,000 after acquiring an additional 1,392 shares in the last quarter. Quantbot Technologies LP acquired a new position in GXO Logistics in the 1st quarter worth approximately $1,354,000. Finally, Sciencast Management LP lifted its holdings in shares of GXO Logistics by 14.4% in the first quarter. Sciencast Management LP now owns 8,211 shares of the company’s stock valued at $441,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.