GXO Logistics (NYSE:GXO) Stock Rating Upgraded by Truist Financial

GXO Logistics (NYSE:GXO) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The firm presently has a $62.00 price target on the stock, up from their previous price target of $48.00. Truist Financial’s target price would indicate a potential upside of 19.88% from the company’s previous close.

Several other research firms also recently commented on GXO. Citigroup lifted their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Stifel Nicolaus raised their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Finally, Barclays lifted their target price on GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.43.

GXO Logistics Stock Up 0.1%

Shares of GXO opened at $51.72 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78. GXO Logistics has a 52 week low of $30.46 and a 52 week high of $63.33. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 83.42, a PEG ratio of 1.89 and a beta of 1.64. The stock has a fifty day moving average of $43.96 and a 200-day moving average of $41.39.

GXO Logistics (NYSE:GXO) last issued its 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 return on equity of 10.49% and a net margin of 0.61%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that GXO Logistics will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GXO Logistics

Institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC lifted its stake in GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after buying an additional 689 shares during the period. GAMMA Investing LLC increased its stake 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 acquiring an additional 302 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of GXO Logistics during the 1st quarter valued at $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in GXO Logistics by 72.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock worth $37,000 after acquiring an additional 396 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in GXO Logistics during the fourth quarter worth $41,000. Institutional investors own 90.67% of the company’s stock.

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.