TD Cowen Boosts GXO Logistics (NYSE:GXO) Price Target to $82.00

GXO Logistics (NYSE:GXO) had its price target boosted by equities research analysts at TD Cowen from $80.00 to $82.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 55.13% from the stock’s current price.

Several other research firms have also commented on GXO. Stifel Nicolaus increased their target price on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Susquehanna boosted their target price on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, February 15th. BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Wednesday, March 27th. Citigroup decreased their price target on GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.85.

GXO Logistics Stock Up 3.8 %

Shares of GXO traded up $1.93 on Thursday, reaching $52.86. The stock had a trading volume of 640,367 shares, compared to its average volume of 859,600. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.63. The company has a 50-day simple moving average of $50.55 and a 200-day simple moving average of $54.33. GXO Logistics has a 12-month low of $48.11 and a 12-month high of $67.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. GXO Logistics’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Sell-side analysts predict that GXO Logistics will post 2.78 EPS for the current year.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now owns 20,851 shares in the company, valued at $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of GXO Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GXO. Norges Bank acquired a new stake in GXO Logistics during the fourth quarter valued at approximately $65,002,000. Fort Pitt Capital Group LLC grew its position in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after purchasing an additional 698,180 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in GXO Logistics by 3,033.0% in the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock valued at $34,873,000 after acquiring an additional 552,000 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of GXO Logistics by 307.5% in the first quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock worth $34,865,000 after buying an additional 489,369 shares during the last quarter. Finally, Payden & Rygel Investment Group acquired a new position in shares of GXO Logistics in the third quarter valued at $18,272,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

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.