GXO Logistics (NYSE:GXO) Given New $58.00 Price Target at Morgan Stanley

GXO Logistics (NYSE:GXO) had its price objective cut by Morgan Stanley from $60.00 to $58.00 in a research note published on Monday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. UBS Group raised their price target on shares of GXO Logistics from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on GXO Logistics from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Stifel Nicolaus boosted their target price on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Susquehanna increased their price target on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Finally, Truist Financial raised GXO Logistics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.29.

GXO Logistics Trading Up 3.1%

Shares of GXO Logistics stock opened at $55.41 on Monday. The stock has a fifty day moving average price of $51.76 and a 200-day moving average price of $45.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $6.34 billion, a PE ratio of 104.55, a P/E/G ratio of 2.15 and a beta of 1.64. GXO Logistics has a 1 year low of $30.46 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that GXO Logistics will post 2.49 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division increased its position in shares of GXO Logistics by 63.1% during the third quarter. Moody National Bank Trust Division now owns 11,097 shares of the company’s stock valued at $587,000 after buying an additional 4,292 shares during the period. GAMMA Investing LLC boosted its position in shares of GXO Logistics by 28.2% in the third quarter. GAMMA Investing LLC now owns 1,429 shares of the company’s stock valued at $76,000 after acquiring an additional 314 shares during the period. Corient Private Wealth LLC purchased a new position in GXO Logistics during the second quarter valued at approximately $650,000. Texas Permanent School Fund Corp increased its holdings in GXO Logistics by 10.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 62,285 shares of the company’s stock worth $3,033,000 after acquiring an additional 5,919 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in GXO Logistics by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 26,542 shares of the company’s stock worth $1,292,000 after purchasing an additional 9,217 shares in the last quarter. 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.