Oppenheimer Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price target lifted by investment analysts at Oppenheimer from $63.00 to $67.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 11.02% from the stock’s previous close.

GXO has been the subject of several other reports. Barclays boosted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective for the company. Susquehanna cut their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. UBS Group increased their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, TD Cowen boosted their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Price Performance

NYSE:GXO opened at $60.35 on Wednesday. The firm’s fifty day moving average is $57.62 and its two-hundred day moving average is $52.88. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 67.06, a PEG ratio of 1.85 and a beta of 1.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics has a one year low of $46.07 and a one year high of $63.33.

GXO Logistics (NYSE:GXO) last issued 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. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company’s 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. Research analysts expect that GXO Logistics will post 2.77 EPS for the current year.

Institutional Investors Weigh In On GXO Logistics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of GXO Logistics in the third quarter worth about $28,000. UMB Bank n.a. raised its holdings in GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after acquiring an additional 331 shares during the last quarter. Signaturefd LLC lifted its stake in GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares in the last quarter. Hara Capital LLC acquired a new position in shares of GXO Logistics during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after purchasing an additional 282 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.