GXO Logistics (NYSE:GXO – Get Free Report) had its target price raised by investment analysts at Wells Fargo & Company from $44.00 to $48.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.05% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of GXO Logistics from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a “hold” rating and a $45.00 price target on the stock. Finally, Citigroup lowered their price objective on GXO Logistics from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and an average target price of $54.86.
Get Our Latest Research Report on GXO Logistics
GXO Logistics Stock Performance
GXO Logistics (NYSE:GXO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis. Research analysts forecast that GXO Logistics will post 2.49 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its stake in GXO Logistics by 30.0% during the first quarter. Voya Investment Management LLC now owns 27,994 shares of the company’s stock worth $1,094,000 after purchasing an additional 6,461 shares during the last quarter. Advisors Capital Management LLC lifted its position in GXO Logistics by 17.2% in the 1st quarter. Advisors Capital Management LLC now owns 130,248 shares of the company’s stock worth $5,090,000 after buying an additional 19,157 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in GXO Logistics by 4,775.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,999 shares of the company’s stock worth $78,000 after buying an additional 1,958 shares in the last quarter. Bayforest Capital Ltd bought a new position in GXO Logistics during the first quarter valued at approximately $151,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GXO Logistics by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 377,211 shares of the company’s stock valued at $14,741,000 after acquiring an additional 8,670 shares during the last quarter. 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.
See Also
- Five stocks we like better than GXO Logistics
- Short Selling – The Pros and Cons
- GE Aerospace Turns Engines Into Long-Term Profits
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Smith & Wesson Stock Falls on Earnings Miss, Tariff Woes
- 3 Best Fintech Stocks for a Portfolio Boost
- Marvell’s New AI Chip Deals Capture Wall Street’s Attention
Receive News & Ratings for GXO Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GXO Logistics and related companies with MarketBeat.com's FREE daily email newsletter.