GXO Logistics (NYSE:GXO) Price Target Raised to $60.00

GXO Logistics (NYSE:GXO) had its target price increased by investment analysts at Barclays from $55.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 0.44% from the company’s current price.

A number of other research firms have also recently weighed in on GXO. UBS Group boosted their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Susquehanna decreased their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup initiated coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, TD Cowen upped their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Down 1.1 %

GXO Logistics stock opened at $59.74 on Wednesday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 66.37, a PEG ratio of 1.82 and a beta of 1.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. GXO Logistics has a twelve month low of $46.07 and a twelve month high of $63.33. The stock has a 50 day moving average of $55.86 and a two-hundred day moving average of $52.32.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. As a group, research analysts expect that GXO Logistics will post 2.77 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Several large investors have recently modified their holdings of GXO. Aureus Asset Management LLC bought a new position in GXO Logistics during the 3rd quarter worth $521,000. Paloma Partners Management Co purchased a new stake in shares of GXO Logistics in the third quarter valued at $227,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in GXO Logistics by 42.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 311,050 shares of the company’s stock valued at $16,196,000 after buying an additional 92,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in GXO Logistics by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock worth $26,153,000 after buying an additional 12,208 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in GXO Logistics by 12.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,031 shares of the company’s stock valued at $2,761,000 after buying an additional 6,004 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.