GXO Logistics (NYSE:GXO) Trading Up 8.1% – Here’s Why

Shares of GXO Logistics, Inc. (NYSE:GXO) traded up 8.1% during trading on Friday . The company traded as high as $39.07 and last traded at $39.25. 1,978,599 shares traded hands during trading, an increase of 39% from the average session volume of 1,419,277 shares. The stock had previously closed at $36.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday. Barclays lowered their target price on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday. The Goldman Sachs Group reduced their price target on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen boosted their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley reduced their price target on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.54.

GXO Logistics Stock Up 8.8 %

The business’s fifty day moving average price is $44.40 and its 200 day moving average price is $50.83. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.72 billion, a PE ratio of 43.88, a PEG ratio of 1.19 and a beta of 1.60.

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 0.97% and a return on equity of 10.03%. On average, equities research analysts forecast that GXO Logistics, Inc. will post 2.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in GXO Logistics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company’s stock worth $492,977,000 after purchasing an additional 212,254 shares in the last quarter. Clearbridge Investments LLC raised its holdings in GXO Logistics by 3.8% during the fourth quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company’s stock worth $183,924,000 after purchasing an additional 153,522 shares in the last quarter. State Street Corp raised its holdings in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after purchasing an additional 66,232 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in GXO Logistics by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company’s stock worth $121,718,000 after purchasing an additional 50,682 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in 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 purchasing an additional 2,612,223 shares in the last quarter. 90.67% of the stock is 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.