Stock Traders Purchase High Volume of Call Options on GXO Logistics (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXO) saw some unusual options trading on Wednesday. Investors acquired 10,006 call options on the stock. This represents an increase of 264% compared to the average volume of 2,749 call options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GXO. George Kaiser Family Foundation acquired a new position in shares of GXO Logistics during the 1st quarter valued at about $1,014,000. Retirement Systems of Alabama increased its stake in GXO Logistics by 6.1% during the first quarter. Retirement Systems of Alabama now owns 318,034 shares of the company’s stock worth $17,098,000 after acquiring an additional 18,184 shares during the last quarter. Raymond James & Associates raised its holdings in shares of GXO Logistics by 16.3% in the 3rd quarter. Raymond James & Associates now owns 466,749 shares of the company’s stock worth $24,304,000 after purchasing an additional 65,534 shares during the period. Swedbank AB lifted its stake in shares of GXO Logistics by 15.9% in the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock valued at $92,162,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of GXO Logistics by 269.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,928 shares of the company’s stock worth $1,158,000 after purchasing an additional 16,716 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

GXO has been the topic of a number of analyst reports. Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Susquehanna dropped their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, UBS Group dropped their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Price Performance

Shares of NYSE:GXO traded up $0.96 during trading on Wednesday, hitting $61.38. 73,144 shares of the stock were exchanged, compared to its average volume of 912,654. The company has a fifty day moving average price of $53.29 and a two-hundred day moving average price of $51.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.33 billion, a PE ratio of 51.13, a P/E/G ratio of 1.81 and a beta of 1.59. GXO Logistics has a 12-month low of $46.07 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. On average, analysts forecast that GXO Logistics will post 2.78 EPS for the current year.

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.