GXO Logistics (NYSE:GXO) Price Target Cut to $91.00 by Analysts at Oppenheimer

GXO Logistics (NYSE:GXOGet Rating) had its price objective lowered by Oppenheimer from $108.00 to $91.00 in a research report released on Monday, The Fly reports.

Several other brokerages have also weighed in on GXO. Citigroup cut their price objective on shares of GXO Logistics from $110.00 to $90.00 and set a buy rating on the stock in a report on Wednesday, April 20th. Morgan Stanley lifted their price target on shares of GXO Logistics from $75.00 to $76.00 and gave the stock an equal weight rating in a research report on Monday, April 4th. JPMorgan Chase & Co. reduced their price target on shares of GXO Logistics from $100.00 to $86.00 and set an overweight rating on the stock in a research report on Friday, April 8th. Zacks Investment Research cut shares of GXO Logistics from a hold rating to a sell rating in a research report on Tuesday, February 15th. Finally, Wells Fargo & Company lifted their price target on shares of GXO Logistics from $105.00 to $110.00 in a research report on Thursday, February 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, GXO Logistics currently has an average rating of Buy and a consensus target price of $98.00.

Shares of NYSE GXO opened at $55.22 on Monday. The company’s 50 day simple moving average is $67.03 and its 200 day simple moving average is $81.16. GXO Logistics has a fifty-two week low of $48.38 and a fifty-two week high of $105.92. The firm has a market capitalization of $6.34 billion and a P/E ratio of 36.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.96 and a quick ratio of 0.90.

GXO Logistics (NYSE:GXOGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. GXO Logistics had a net margin of 2.15% and a return on equity of 9.11%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $0.37 earnings per share. GXO Logistics’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts expect that GXO Logistics will post 2.83 EPS for the current fiscal year.

In other GXO Logistics news, Director Gena L. Ashe sold 3,527 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $80.00, for a total transaction of $282,160.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director S Jacobs Bradley sold 5,447,500 shares of the business’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $57.24, for a total transaction of $311,814,900.00. Following the sale, the director now directly owns 6,468,201 shares in the company, valued at $370,239,825.24. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of GXO Logistics by 0.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 36,110 shares of the company’s stock worth $2,577,000 after purchasing an additional 199 shares during the last quarter. Herold Advisors Inc. acquired a new position in shares of GXO Logistics during the 1st quarter worth about $54,000. Scotia Capital Inc. increased its stake in shares of GXO Logistics by 64.8% during the 1st quarter. Scotia Capital Inc. now owns 3,798 shares of the company’s stock worth $271,000 after purchasing an additional 1,493 shares during the last quarter. Swiss National Bank increased its stake in shares of GXO Logistics by 7.5% during the 1st quarter. Swiss National Bank now owns 244,000 shares of the company’s stock worth $17,407,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of GXO Logistics by 7.5% during the 1st quarter. Teacher Retirement System of Texas now owns 21,124 shares of the company’s stock worth $1,507,000 after purchasing an additional 1,468 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

About GXO Logistics (Get Rating)

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

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