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

GXO Logistics (NYSE:GXO) had its price objective boosted by investment analysts at Barclays from $55.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 0.65% from the company’s previous close.

Several other research firms have also recently commented on GXO. TD Cowen increased their price target on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group raised their target price on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Citigroup initiated coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. Finally, Susquehanna cut their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $66.92.

GXO Logistics Stock Performance

GXO Logistics stock traded up $0.39 during trading hours on Wednesday, hitting $60.39. 123,267 shares of the stock traded hands, compared to its average volume of 928,028. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day moving average price is $55.37 and its 200-day moving average price is $52.21. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 67.11, a P/E/G ratio of 1.81 and a beta of 1.55. GXO Logistics has a 1 year low of $46.07 and a 1 year high of $63.33.

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. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. GXO Logistics’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, equities analysts expect that GXO Logistics will post 2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. boosted its holdings in GXO Logistics by 105.0% in the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock valued at $50,418,000 after purchasing an additional 495,829 shares during the period. Independent Advisor Alliance boosted its holdings in GXO Logistics by 10.4% in the third quarter. Independent Advisor Alliance now owns 24,749 shares of the company’s stock valued at $1,289,000 after purchasing an additional 2,338 shares during the period. Algert Global LLC boosted its holdings in GXO Logistics by 179.5% in the third quarter. Algert Global LLC now owns 104,631 shares of the company’s stock valued at $5,448,000 after purchasing an additional 67,190 shares during the period. Cerity Partners LLC boosted its holdings in GXO Logistics by 3.7% in the third quarter. Cerity Partners LLC now owns 103,523 shares of the company’s stock valued at $5,390,000 after purchasing an additional 3,719 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in GXO Logistics by 31.5% in the third quarter. Raymond James Trust N.A. now owns 25,373 shares of the company’s stock valued at $1,321,000 after purchasing an additional 6,078 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

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.