TD Cowen Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price target upped by stock analysts at TD Cowen from $82.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 37.37% from the company’s current price.

A number of other equities research analysts also recently issued reports on GXO. UBS Group lowered their target price on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Susquehanna lowered 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 note on Thursday, September 26th. JPMorgan Chase & Co. increased their target price on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Citigroup initiated coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.55.

GXO Logistics Price Performance

GXO stock opened at $60.42 on Wednesday. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 67.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33. The stock’s fifty day simple moving average is $54.76 and its 200-day simple moving average is $51.97.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.21% and a net margin of 0.97%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that GXO Logistics will post 2.78 EPS for the current year.

Institutional Trading of GXO Logistics

Several large investors have recently bought and sold shares of the company. Eminence Capital LP acquired a new stake in GXO Logistics during the 2nd quarter valued at approximately $79,698,000. Swedbank AB bought a new position in shares of GXO Logistics during the first quarter worth about $84,672,000. Spruce House Investment Management LLC grew its stake in GXO Logistics by 827.8% in the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock worth $45,450,000 after purchasing an additional 803,000 shares in the last quarter. American Century Companies Inc. grew its stake in GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after purchasing an additional 648,547 shares in the last quarter. Finally, Fort Pitt Capital Group LLC increased its holdings in GXO Logistics by 30.4% in the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after buying an additional 563,057 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.