GXO Logistics (NYSE:GXO) Shares Gap Up on Analyst Upgrade

GXO Logistics, Inc. (NYSE:GXO)’s stock price gapped up prior to trading on Friday after Wells Fargo & Company raised their price target on the stock from $44.00 to $48.00. The stock had previously closed at $42.78, but opened at $44.71. Wells Fargo & Company currently has an overweight rating on the stock. GXO Logistics shares last traded at $47.77, with a volume of 615,372 shares.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a “hold” rating and a $45.00 price objective for the company. Truist Financial decreased their price target on shares of GXO Logistics from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Finally, Citigroup decreased their price target on shares of GXO Logistics from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

Hedge Funds Weigh In On GXO Logistics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after purchasing an additional 689 shares during the last quarter. GAMMA Investing LLC raised its position in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of GXO Logistics in the 1st quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. raised its position in shares of GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock valued at $37,000 after purchasing an additional 396 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of GXO Logistics in the 4th quarter valued at approximately $41,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 12.3%

The company’s 50-day moving average is $39.54 and its 200 day moving average is $41.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $5.50 billion, a PE ratio of 77.46, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm posted $0.45 EPS. GXO Logistics’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

GXO Logistics Company Profile

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.