GXO Logistics, Inc. (NYSE:GXO) Short Interest Up 12.3% in December

GXO Logistics, Inc. (NYSE:GXO) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,640,000 shares, an increase of 12.3% from the December 15th total of 3,240,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GXO. TD Cowen lifted their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup started coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. Oppenheimer boosted their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Susquehanna dropped their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, UBS Group lifted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.38.

Hedge Funds Weigh In On GXO Logistics

Hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in GXO Logistics in the 3rd quarter valued at $28,000. UMB Bank n.a. grew its holdings 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 worth $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC raised its position in shares of GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares during the last quarter. Hara Capital LLC purchased a new position in shares of GXO Logistics in the third quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after acquiring an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Price Performance

NYSE:GXO traded down $0.39 during trading hours on Friday, reaching $43.98. 888,946 shares of the company were exchanged, compared to its average volume of 1,483,056. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5.25 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.60. GXO Logistics has a twelve month low of $41.38 and a twelve month high of $63.33. The stock’s 50-day moving average is $50.21 and its 200-day moving average is $52.03.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts anticipate that GXO Logistics will post 2.74 earnings per share 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.