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

GXO Logistics (NYSE:GXO) had its target price hoisted by Barclays from $55.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on GXO. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. Susquehanna decreased 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. UBS Group raised 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. Finally, TD Cowen upped their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Performance

NYSE:GXO opened at $60.41 on Wednesday. The company has a market cap of $7.22 billion, a P/E ratio of 67.09, a P/E/G ratio of 1.81 and a beta of 1.55. The firm’s 50 day moving average is $55.61 and its two-hundred day moving average is $52.27. GXO Logistics has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last issued its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business 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 posted $0.69 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Analysts expect that GXO Logistics will post 2.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GXO. DekaBank Deutsche Girozentrale purchased a new stake in GXO Logistics during the 3rd quarter worth approximately $28,000. UMB Bank n.a. increased its stake in shares of GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after buying an additional 331 shares during the last quarter. Signaturefd LLC raised its holdings in GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares in the last quarter. Hara Capital LLC bought a new position in GXO Logistics during the 3rd quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds 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.