GXO Logistics (NYSE:GXO) Coverage Initiated at Citigroup

Citigroup started coverage on shares of GXO Logistics (NYSE:GXO) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $60.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Susquehanna reduced their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a positive rating for the company in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Finally, UBS Group reduced their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a buy rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, GXO Logistics presently has an average rating of Moderate Buy and an average price target of $66.91.

GXO Logistics Trading Up 6.7 %

GXO opened at $61.98 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a fifty-two week low of $46.07 and a fifty-two week high of $63.07. The firm has a market capitalization of $7.40 billion, a PE ratio of 52.97, a P/E/G ratio of 1.52 and a beta of 1.59. The company’s 50-day moving average is $49.96 and its 200 day moving average is $50.69.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts predict that GXO Logistics will post 2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GXO Logistics

Large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after buying an additional 331 shares in the last quarter. Mather Group LLC. grew its stake in GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after buying an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in GXO Logistics by 920.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after buying an additional 1,151 shares in the last quarter. Motco grew its stake in GXO Logistics by 2,836.4% in the 1st quarter. Motco now owns 1,292 shares of the company’s stock valued at $69,000 after buying an additional 1,248 shares in the last quarter. Finally, Smithfield Trust Co grew its stake in GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after buying an additional 195 shares in the last quarter. 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.