GXO Logistics (NYSE:GXO) Now Covered by Citigroup

Citigroup initiated coverage on shares of GXO Logistics (NYSE:GXO) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

A number of other brokerages have also recently weighed in on GXO. Susquehanna dropped their target price on shares of GXO Logistics from $75.00 to $73.00 and set a positive rating on the stock in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an overweight rating in a research note on Tuesday, July 9th. Finally, UBS Group decreased their target price on GXO Logistics from $71.00 to $66.00 and set a buy rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $66.91.

GXO Logistics Trading Up 6.7 %

Shares of GXO opened at $61.98 on Wednesday. The company has a market capitalization of $7.40 billion, a P/E ratio of 52.97, a P/E/G ratio of 1.52 and a beta of 1.59. The stock has a 50-day moving average price of $49.96 and a 200 day moving average price of $50.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics has a one year low of $46.07 and a one year high of $63.07.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 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 analyst estimates of $2.73 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Sell-side analysts forecast that GXO Logistics will post 2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Gilman Hill Asset Management LLC boosted its stake in GXO Logistics by 1.0% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 98,988 shares of the company’s stock valued at $5,154,000 after purchasing an additional 934 shares in the last quarter. Reinhart Partners LLC. boosted its stake in GXO Logistics by 7.1% during the third quarter. Reinhart Partners LLC. now owns 608,694 shares of the company’s stock valued at $31,695,000 after buying an additional 40,289 shares in the last quarter. UMB Bank n.a. grew its holdings in GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after acquiring an additional 331 shares during the period. CWM LLC lifted its holdings in GXO Logistics by 13.8% in the 3rd quarter. CWM LLC now owns 1,961 shares of the company’s stock valued at $102,000 after acquiring an additional 238 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its position in shares of GXO Logistics by 37.3% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,396 shares of the company’s stock valued at $437,000 after purchasing an additional 2,282 shares in 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.