Oppenheimer Increases GXO Logistics (NYSE:GXO) Price Target to $67.00

GXO Logistics (NYSE:GXO) had its price target lifted by research analysts at Oppenheimer from $63.00 to $67.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 10.71% from the stock’s previous close.

Several other brokerages have also issued reports on GXO. TD Cowen raised their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Susquehanna dropped their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. UBS Group lifted their price objective on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays upped their price objective on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Citigroup initiated coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Stock Performance

NYSE:GXO opened at $60.52 on Wednesday. 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 has a twelve month low of $46.07 and a twelve month high of $63.33. The company has a fifty day moving average of $57.27 and a 200-day moving average of $52.77. The firm has a market capitalization of $7.23 billion, a P/E ratio of 67.24, a P/E/G ratio of 1.85 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data 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. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. As a group, sell-side analysts anticipate that GXO Logistics will post 2.77 EPS for the current year.

Institutional Trading of GXO Logistics

Several large investors have recently modified their holdings of GXO. State Street Corp raised its position in GXO Logistics by 1.9% during the 3rd quarter. State Street Corp now owns 3,631,328 shares of the company’s stock valued at $189,083,000 after purchasing an additional 66,232 shares during the last quarter. American Century Companies Inc. lifted its stake in GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after acquiring an additional 648,547 shares during the period. Fort Pitt Capital Group LLC boosted its holdings in GXO Logistics by 2.1% in the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after acquiring an additional 51,208 shares in the last quarter. Dimensional Fund Advisors LP increased its position in GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of GXO Logistics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after purchasing an additional 29,992 shares during the period. 90.67% of the stock is owned by institutional investors.

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.