GXO Logistics (NYSE:GXO) Price Target Increased to $82.00 by Analysts at TD Cowen

GXO Logistics (NYSE:GXO) had its price objective raised by equities researchers at TD Cowen from $80.00 to $82.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 55.13% from the company’s previous close.

Several other research analysts have also commented on GXO. Susquehanna raised their price target on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, February 15th. Stifel Nicolaus upped their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Wednesday, March 27th. Loop Capital cut their price target on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Citigroup lowered their price target on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.85.

GXO Logistics Stock Performance

GXO Logistics stock traded up $1.93 during trading hours on Thursday, hitting $52.86. 640,367 shares of the stock traded hands, compared to its average volume of 859,600. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.11 and a beta of 1.63. GXO Logistics has a 1 year low of $48.11 and a 1 year high of $67.57. The firm’s 50 day moving average price is $50.55 and its 200-day moving average price is $54.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the business posted $0.49 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts expect that GXO Logistics will post 2.78 EPS for the current fiscal year.

Insider Transactions at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in GXO Logistics by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,145,865 shares of the company’s stock worth $681,681,000 after buying an additional 72,764 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of GXO Logistics by 2.6% in the 4th quarter. Clearbridge Investments LLC now owns 2,941,518 shares of the company’s stock worth $179,903,000 after purchasing an additional 75,712 shares during the last quarter. FMR LLC increased its stake in GXO Logistics by 0.4% during the 3rd quarter. FMR LLC now owns 2,173,881 shares of the company’s stock valued at $127,498,000 after buying an additional 8,668 shares during the period. Fort Pitt Capital Group LLC grew its stake in shares of GXO Logistics by 60.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after purchasing an additional 698,180 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of GXO Logistics by 22.6% during the third quarter. Invesco Ltd. now owns 1,466,267 shares of the company’s stock valued at $85,997,000 after acquiring an additional 270,524 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.