GXO Logistics, Inc. (NYSE:GXO) Sees Large Increase in Short Interest

GXO Logistics, Inc. (NYSE:GXO) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,150,000 shares, an increase of 20.2% from the February 13th total of 5,950,000 shares. Based on an average daily volume of 1,710,000 shares, the short-interest ratio is currently 4.2 days. Approximately 6.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer decreased their price objective on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research report on Friday, March 7th. They issued a “hold” rating and a $45.00 price target for the company. Loop Capital cut shares of GXO Logistics from a “buy” rating to a “hold” rating and reduced their price target for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Truist Financial began coverage on shares of GXO Logistics in a research report on Thursday, March 13th. They issued a “hold” rating and a $40.00 price target for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price target (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded down $0.45 on Tuesday, reaching $40.76. The company’s stock had a trading volume of 1,233,609 shares, compared to its average volume of 1,144,184. The stock’s 50-day moving average is $41.91 and its two-hundred day moving average is $49.31. GXO Logistics has a 52-week low of $34.51 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The stock has a market capitalization of $4.87 billion, a P/E ratio of 36.39, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last announced its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. As a group, sell-side analysts forecast that GXO Logistics will post 2.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GXO. Kovitz Investment Group Partners LLC increased its stake in shares of GXO Logistics by 28,112.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company’s stock worth $114,036,000 after acquiring an additional 2,612,223 shares during the period. Norges Bank acquired a new position in shares of GXO Logistics during the fourth quarter worth about $55,266,000. Spruce House Investment Management LLC increased its stake in shares of GXO Logistics by 133.3% during the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company’s stock worth $91,350,000 after acquiring an additional 1,200,000 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of GXO Logistics during the fourth quarter worth about $47,626,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of GXO Logistics during the fourth quarter worth about $46,523,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

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.