GXO Logistics, Inc. (NYSE:GXO) Sees Significant Growth in Short Interest

GXO Logistics, Inc. (NYSE:GXO) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 5,950,000 shares, an increase of 33.4% from the January 31st total of 4,460,000 shares. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 5.1% of the company’s stock are short sold.

GXO Logistics Stock Performance

GXO stock traded down $1.21 during midday trading on Tuesday, hitting $36.84. The company’s stock had a trading volume of 456,410 shares, compared to its average volume of 1,115,410. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.34 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $42.94 and its 200 day moving average price is $50.11. GXO Logistics has a 1 year low of $34.51 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. On average, equities analysts forecast that GXO Logistics will post 2.49 EPS for the current year.

Institutional Investors Weigh In On GXO Logistics

Hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new stake in GXO Logistics in the third quarter worth $28,000. Murphy & Mullick Capital Management Corp bought a new position in shares of GXO Logistics during the 4th quarter worth $41,000. Hara Capital LLC purchased a new stake in GXO Logistics in the 3rd quarter worth about $50,000. Summit Securities Group LLC raised its stake in GXO Logistics by 870.9% in the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after acquiring an additional 897 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in GXO Logistics by 33.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Barclays lowered their target price on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus reissued a “buy” rating and set a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. The Goldman Sachs Group lowered their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen upped their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.62.

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.