Investors Purchase High Volume of GXO Logistics Call Options (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXO) was the recipient of unusually large options trading on Wednesday. Traders bought 10,006 call options on the company. This represents an increase of approximately 264% compared to the typical volume of 2,749 call options.

Analyst Upgrades and Downgrades

GXO has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. UBS Group lowered their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup began coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Susquehanna cut their price target 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $61.94 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.81 and a beta of 1.59. The business has a 50-day moving average of $53.56 and a 200-day moving average of $51.57.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. On average, equities analysts anticipate that GXO Logistics will post 2.78 EPS for the current fiscal year.

Institutional Trading of GXO Logistics

Several large investors have recently modified their holdings of the business. Eminence Capital LP purchased a new position in GXO Logistics in the second quarter valued at about $79,698,000. Swedbank AB acquired a new stake in shares of GXO Logistics during the first quarter worth approximately $84,672,000. Spruce House Investment Management LLC grew its position in shares of GXO Logistics by 827.8% during the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock worth $45,450,000 after buying an additional 803,000 shares in the last quarter. American Century Companies Inc. increased its stake in shares of GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after buying an additional 648,547 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its holdings in GXO Logistics by 30.4% in the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after acquiring an additional 563,057 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

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.