GXO Logistics (NYSE:GXO) Hits New 52-Week High – Should You Buy?

GXO Logistics, Inc. (NYSE:GXO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.15 and last traded at $62.80, with a volume of 407106 shares changing hands. The stock had previously closed at $61.38.

Analyst Upgrades and Downgrades

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

GXO Logistics Trading Up 2.2 %

The company has a 50 day simple moving average of $50.49 and a 200 day simple moving average of $50.79. The company has a market capitalization of $7.49 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. 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 (NYSE:GXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (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 period in the prior year, the firm earned $0.70 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. Analysts anticipate that GXO Logistics, Inc. will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On GXO Logistics

A number of hedge funds have recently modified their holdings of GXO. Eminence Capital LP purchased a new stake in GXO Logistics during the 2nd quarter valued at about $79,698,000. Swedbank AB purchased a new stake in shares of GXO Logistics in the first quarter valued at approximately $84,672,000. Spruce House Investment Management LLC increased its holdings in shares of GXO Logistics by 827.8% in the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after purchasing an additional 803,000 shares during the last quarter. Fort Pitt Capital Group LLC lifted its position in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after buying an additional 698,180 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in GXO Logistics by 25.2% during the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after buying an additional 648,547 shares in the last quarter. 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.