GXO Logistics (NYSE:GXO) Trading Up 8.1% – Here’s Why

Shares of GXO Logistics, Inc. (NYSE:GXO) were up 8.1% during mid-day trading on Friday . The stock traded as high as $39.07 and last traded at $39.25. Approximately 1,978,599 shares were traded during mid-day trading, an increase of 39% from the average daily volume of 1,419,277 shares. The stock had previously closed at $36.31.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GXO shares. Morgan Stanley lowered their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group decreased 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. Loop Capital lowered shares of GXO Logistics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research note on Friday. Finally, Barclays decreased 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 research note on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and an average target price of $58.54.

GXO Logistics Trading Up 8.8 %

The stock has a market cap of $4.72 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day moving average price is $44.40 and its 200 day moving average price is $50.83.

GXO Logistics (NYSE:GXO) last posted its 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 0.97% and a return on equity of 10.03%. On average, sell-side analysts forecast that GXO Logistics, Inc. will post 2.73 EPS for the current fiscal year.

Institutional Trading of GXO Logistics

Several institutional investors have recently added to or reduced their stakes in the stock. Nexpoint Asset Management L.P. acquired a new stake in GXO Logistics in the 4th quarter valued at approximately $352,000. One68 Global Capital LLC acquired a new position in shares of GXO Logistics in the fourth quarter worth $914,000. Soros Fund Management LLC acquired a new position in shares of GXO Logistics in the fourth quarter worth $2,175,000. Schonfeld Strategic Advisors LLC grew its stake in shares of GXO Logistics by 79.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 46,069 shares of the company’s stock worth $2,004,000 after acquiring an additional 20,446 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of GXO Logistics by 23.6% in the fourth quarter. Northern Trust Corp now owns 1,005,232 shares of the company’s stock worth $43,728,000 after acquiring an additional 191,648 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.