GXO Logistics (NYSE:GXO) PT Lowered to $74.00 at Loop Capital

GXO Logistics (NYSE:GXO) had its price objective dropped by equities researchers at Loop Capital from $76.00 to $74.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 48.86% from the stock’s current price.

Several other analysts have also recently issued reports on GXO. Stifel Nicolaus upped their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. TD Cowen boosted their target price on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Susquehanna boosted their target price on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Finally, BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.54.

GXO Logistics Stock Up 3.2 %

NYSE GXO opened at $49.71 on Thursday. The stock’s 50 day moving average is $51.53 and its 200 day moving average is $54.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57. The stock has a market cap of $5.94 billion, a PE ratio of 26.03, a P/E/G ratio of 2.06 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Research analysts predict that GXO Logistics will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GXO Logistics

Several hedge funds have recently made changes to their positions in GXO. Norges Bank purchased a new stake in shares of GXO Logistics in the 4th quarter worth $65,002,000. Morgan Stanley lifted its holdings in shares of GXO Logistics by 58.9% in the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock worth $117,261,000 after buying an additional 1,017,980 shares during the period. Mar Vista Investment Partners LLC purchased a new stake in shares of GXO Logistics in the 1st quarter worth $71,087,000. Vanguard Group Inc. lifted its holdings in shares of GXO Logistics by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock worth $378,512,000 after buying an additional 870,382 shares during the period. Finally, Fort Pitt Capital Group LLC lifted its stake in shares of GXO Logistics by 60.4% during the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after purchasing an additional 698,180 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

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.