Loop Capital Lowers GXO Logistics (NYSE:GXO) Price Target to $74.00

GXO Logistics (NYSE:GXO) had its price target reduced by equities researchers at Loop Capital from $76.00 to $74.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s target price suggests a potential upside of 48.86% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Susquehanna boosted their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Citigroup decreased their price target on GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. decreased their price target on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus upped their price target on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, TD Cowen upped their price target on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.54.

GXO Logistics Trading Up 3.2 %

Shares of GXO Logistics stock opened at $49.71 on Thursday. GXO Logistics has a 52-week low of $48.11 and a 52-week high of $67.57. The stock’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $54.72. The stock has a market capitalization of $5.94 billion, a P/E ratio of 26.03, a P/E/G ratio of 2.06 and a beta of 1.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that GXO Logistics will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Institutional Trading of GXO Logistics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilman Hill Asset Management LLC boosted its stake in GXO Logistics by 0.3% in the fourth quarter. Gilman Hill Asset Management LLC now owns 56,156 shares of the company’s stock worth $3,435,000 after buying an additional 170 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in shares of GXO Logistics by 1.6% in the third quarter. Ipswich Investment Management Co. Inc. now owns 12,430 shares of the company’s stock worth $729,000 after purchasing an additional 190 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of GXO Logistics by 5.3% in the third quarter. Kestra Private Wealth Services LLC now owns 4,004 shares of the company’s stock worth $235,000 after purchasing an additional 200 shares during the last quarter. Comerica Bank grew its holdings in shares of GXO Logistics by 0.4% in the fourth quarter. Comerica Bank now owns 56,137 shares of the company’s stock worth $3,433,000 after purchasing an additional 211 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of GXO Logistics by 1.4% in the third quarter. Commonwealth Equity Services LLC now owns 14,856 shares of the company’s stock worth $871,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors 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.