Short Interest in GXO Logistics, Inc. (NYSE:GXO) Grows By 12.3%

GXO Logistics, Inc. (NYSE:GXO) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,640,000 shares, a growth of 12.3% from the December 31st total of 3,240,000 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average trading volume of 1,560,000 shares, the short-interest ratio is currently 2.3 days.

GXO Logistics Trading Down 2.8 %

Shares of NYSE:GXO traded down $1.26 on Monday, hitting $44.19. 1,110,173 shares of the company’s stock were exchanged, compared to its average volume of 1,128,518. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a 12 month low of $41.38 and a 12 month high of $63.33. The business’s 50 day simple moving average is $47.02 and its two-hundred day simple moving average is $51.58.

GXO Logistics (NYSE:GXO) last released its earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue was up 27.8% compared to the same quarter last year. Analysts anticipate that GXO Logistics will post 2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp increased its position in GXO Logistics by 95.8% during the third quarter. Stifel Financial Corp now owns 76,045 shares of the company’s stock worth $3,960,000 after buying an additional 37,197 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of GXO Logistics by 6.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company’s stock valued at $20,904,000 after buying an additional 31,015 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GXO Logistics by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock valued at $26,153,000 after buying an additional 12,208 shares in the last quarter. Tidal Investments LLC purchased a new stake in GXO Logistics during the third quarter worth $667,000. Finally, Barclays PLC boosted its position in GXO Logistics by 28.9% during the third quarter. Barclays PLC now owns 62,545 shares of the company’s stock worth $3,256,000 after purchasing an additional 14,020 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GXO. Barclays dropped their target price on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Citigroup began coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. The Goldman Sachs Group lowered their target price on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Oppenheimer upped their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, UBS Group increased their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average price target of $63.46.

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.