The Goldman Sachs Group Issues Pessimistic Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price objective cut by The Goldman Sachs Group from $63.00 to $54.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Citigroup started coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. Oppenheimer upped their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Susquehanna lowered their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Finally, TD Cowen upped their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

GXO Logistics Price Performance

GXO stock opened at $43.98 on Thursday. The business’s fifty day moving average price is $50.21 and its 200 day moving average price is $52.05. GXO Logistics has a 12-month low of $41.38 and a 12-month high of $63.33. The company has a market capitalization of $5.25 billion, a PE ratio of 48.86, a P/E/G ratio of 1.10 and a beta of 1.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last announced its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts anticipate that GXO Logistics will post 2.74 EPS for the current year.

Institutional Inflows and Outflows

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

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.