GXO Logistics (NYSE:GXO) Rating Increased to Hold at Zacks Investment Research

GXO Logistics (NYSE:GXO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “GXO Logistics Inc. is a pure-play contract logistics provider. GXO Logistics Inc. is headquartered in Conn., USA. “

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. started coverage on GXO Logistics in a research report on Thursday, September 16th. They issued an “overweight” rating and a $107.00 price objective for the company. Barclays started coverage on GXO Logistics in a research report on Thursday, August 19th. They issued an “equal weight” rating and a $77.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on GXO Logistics from $81.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, August 30th. Morgan Stanley started coverage on GXO Logistics in a research report on Thursday, August 12th. They issued an “equal weight” rating and a $68.00 price objective for the company. Finally, Loop Capital started coverage on GXO Logistics in a research report on Wednesday, August 18th. They issued a “buy” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $86.40.

Shares of GXO stock opened at $79.21 on Tuesday. GXO Logistics has a 12 month low of $48.38 and a 12 month high of $89.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 0.98. The company’s 50 day moving average is $79.12.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Monday, August 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.39). The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.89 billion. On average, sell-side analysts anticipate that GXO Logistics will post 2.12 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Deltec Asset Management LLC bought a new position in shares of GXO Logistics during the third quarter valued at $326,000. Harbour Capital Advisors LLC bought a new position in shares of GXO Logistics during the third quarter valued at $402,000. Gilman Hill Asset Management LLC bought a new position in shares of GXO Logistics during the third quarter valued at $1,192,000. Private Capital Advisors Inc. bought a new position in shares of GXO Logistics during the third quarter valued at $8,206,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of GXO Logistics during the third quarter valued at $1,969,000.

GXO Logistics Company Profile

GXO Logistics Inc is a pure-play contract logistics provider. GXO Logistics Inc is headquartered in Conn., USA.

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Analyst Recommendations for GXO Logistics (NYSE:GXO)

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