GXO Logistics (NYSE:GXO) Given New $65.00 Price Target at Wells Fargo & Company

GXO Logistics (NYSE:GXO) had its price target boosted by Wells Fargo & Company from $60.00 to $65.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their target price on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Oppenheimer raised their price target on GXO Logistics from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Barclays upped their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, UBS Group increased their price objective on GXO Logistics from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

GXO Logistics Trading Up 3.1%

NYSE:GXO opened at $55.41 on Monday. GXO Logistics has a 52-week low of $30.46 and a 52-week high of $63.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $51.76 and a 200-day simple moving average of $45.49. The company has a market capitalization of $6.34 billion, a PE ratio of 104.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.64.

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

Institutional Trading of GXO Logistics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of GXO Logistics by 10.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,046 shares of the company’s stock valued at $100,000 after acquiring an additional 197 shares during the last quarter. Hsbc Holdings PLC grew its holdings in GXO Logistics by 2.0% in the second quarter. Hsbc Holdings PLC now owns 12,780 shares of the company’s stock valued at $622,000 after purchasing an additional 253 shares during the period. GAMMA Investing LLC increased its position in GXO Logistics by 34.0% during the second quarter. GAMMA Investing LLC now owns 1,115 shares of the company’s stock worth $54,000 after purchasing an additional 283 shares during the last quarter. State of Michigan Retirement System increased its position in GXO Logistics by 1.1% during the first quarter. State of Michigan Retirement System now owns 28,627 shares of the company’s stock worth $1,119,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in GXO Logistics by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company’s stock worth $1,309,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

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.