Barclays Boosts GXO Logistics (NYSE:GXO) Price Target to $60.00

GXO Logistics (NYSE:GXO) had its price objective hoisted by stock analysts at Barclays from $55.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 0.44% from the company’s current price.

Several other research firms have also commented on GXO. Citigroup initiated coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. TD Cowen increased their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Susquehanna dropped their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, UBS Group boosted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Trading Down 1.1 %

Shares of NYSE GXO opened at $59.74 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market cap of $7.14 billion, a PE ratio of 66.37, a price-to-earnings-growth ratio of 1.82 and a beta of 1.55. The business has a fifty day simple moving average of $55.86 and a two-hundred day simple moving average of $52.32. GXO Logistics has a twelve month low of $46.07 and a twelve month high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. Analysts expect that GXO Logistics will post 2.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

Several large investors have recently made changes to their positions in GXO. DekaBank Deutsche Girozentrale acquired a new stake in GXO Logistics in the 3rd quarter valued at $28,000. UMB Bank n.a. increased its position in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after purchasing an additional 331 shares during the last quarter. Signaturefd LLC lifted its stake in GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares in the last quarter. Hara Capital LLC purchased a new stake in GXO Logistics during the third quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after acquiring an additional 282 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

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.