GXO Logistics (NYSE:GXO) Price Target Raised to $67.00

GXO Logistics (NYSE:GXO) had its price target hoisted by Oppenheimer from $63.00 to $67.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 10.71% from the stock’s current price.

Other analysts have also issued research reports about the company. Susquehanna cut their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Citigroup started coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. TD Cowen increased their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays boosted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, UBS Group increased their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

GXO Logistics Price Performance

GXO stock opened at $60.52 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $57.27 and a 200-day moving average price of $52.77. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 67.24, a PEG ratio of 1.85 and a beta of 1.55.

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, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company 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 business earned $0.69 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts forecast that GXO Logistics will post 2.77 EPS for the current fiscal year.

Institutional Trading of GXO Logistics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics during the third quarter valued at $28,000. UMB Bank n.a. grew its position 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 valued at $33,000 after purchasing an additional 331 shares in the last quarter. Signaturefd LLC grew its position in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after purchasing an additional 249 shares in the last quarter. Hara Capital LLC bought a new stake in shares of GXO Logistics in the third quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after buying an additional 282 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

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.