GXO Logistics (NYSE:GXO) Shares Gap Up on Analyst Upgrade

GXO Logistics, Inc. (NYSE:GXO) shares gapped up before the market opened on Friday after Wells Fargo & Company raised their price target on the stock from $44.00 to $48.00. The stock had previously closed at $42.78, but opened at $44.71. Wells Fargo & Company currently has an overweight rating on the stock. GXO Logistics shares last traded at $47.77, with a volume of 615,372 shares traded.

Other equities analysts have also issued reports about the stock. Truist Financial reduced their price target on shares of GXO Logistics from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Citigroup dropped their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They set a “hold” rating and a $45.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, GXO Logistics currently has an average rating of “Moderate Buy” and an average target price of $54.86.

Institutional Investors Weigh In On GXO Logistics

A number of institutional investors have recently added to or reduced their stakes in GXO. Rhumbline Advisers grew its stake in GXO Logistics by 3.2% in the 4th quarter. Rhumbline Advisers now owns 329,829 shares of the company’s stock valued at $14,348,000 after acquiring an additional 10,159 shares during the period. Truist Financial Corp grew its stake in GXO Logistics by 4.0% in the 4th quarter. Truist Financial Corp now owns 17,581 shares of the company’s stock valued at $765,000 after acquiring an additional 675 shares during the period. Illinois Municipal Retirement Fund grew its stake in GXO Logistics by 152.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 53,648 shares of the company’s stock valued at $2,334,000 after acquiring an additional 32,433 shares during the period. Oppenheimer & Co. Inc. grew its stake in GXO Logistics by 11.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 78,922 shares of the company’s stock valued at $3,433,000 after acquiring an additional 7,889 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in GXO Logistics in the 4th quarter valued at $1,255,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Stock Up 12.3%

The business’s 50 day moving average is $39.54 and its 200-day moving average is $41.11. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 77.46, a PEG ratio of 2.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. On average, sell-side analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

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.