Oppenheimer Forecasts Strong Price Appreciation for GXO Logistics (NYSE:GXO) Stock

GXO Logistics (NYSE:GXO) had its price target upped by Oppenheimer from $63.00 to $67.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on GXO. UBS Group boosted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Susquehanna lowered their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. 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 target price for the company. TD Cowen boosted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays upped their price objective on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Stock Up 0.9 %

NYSE GXO opened at $60.88 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 company has a fifty day moving average of $57.77 and a two-hundred day moving average of $52.93. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 67.64, a PEG ratio of 1.83 and a beta of 1.55. GXO Logistics has a 52 week low of $46.07 and a 52 week high of $63.33.

GXO Logistics (NYSE:GXO) last issued its 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 firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, analysts predict that GXO Logistics will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in GXO Logistics by 16.3% in the third 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 in the last quarter. Swedbank AB raised its holdings in GXO Logistics by 15.9% in the second quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock worth $92,162,000 after purchasing an additional 250,000 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in GXO Logistics by 269.1% in the second 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 in the last quarter. Mediolanum International Funds Ltd bought a new position in GXO Logistics in the third quarter worth about $6,819,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in GXO Logistics by 537.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 137,732 shares of the company’s stock worth $6,955,000 after purchasing an additional 116,125 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

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.