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

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

Several other analysts also recently weighed in on the stock. TD Cowen lifted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup initiated coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. UBS Group increased 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. Finally, Susquehanna reduced 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Stock Performance

NYSE GXO opened at $60.41 on Wednesday. The firm 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. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33. The business’s 50-day moving average price is $55.61 and its 200 day moving average price is $52.27. 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 announced its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $0.69 EPS. The company’s revenue was up 27.8% on a year-over-year basis. On average, equities research analysts expect that GXO Logistics will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On GXO Logistics

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GXO Logistics by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock valued at $26,153,000 after buying an additional 12,208 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GXO Logistics by 12.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,031 shares of the company’s stock worth $2,761,000 after acquiring an additional 6,004 shares during the period. Brooklyn Investment Group acquired a new position in GXO Logistics in the 3rd quarter valued at $106,000. Brown Brothers Harriman & Co. lifted its stake in shares of GXO Logistics by 105.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock worth $50,418,000 after purchasing an additional 495,829 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in shares of GXO Logistics by 10.4% during the third quarter. Independent Advisor Alliance now owns 24,749 shares of the company’s stock worth $1,289,000 after purchasing an additional 2,338 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

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.