GXO Logistics (NYSE:GXO) Given New $65.00 Price Target at Wells Fargo & Company

GXO Logistics (NYSE:GXO) had its price target raised by analysts at Wells Fargo & Company from $60.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 21.18% from the stock’s current price.

Several other analysts also recently commented on the stock. The Goldman Sachs Group upgraded shares of GXO Logistics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $68.00 in a research report on Wednesday, September 24th. Barclays lifted their target price on GXO Logistics from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Citigroup boosted their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of GXO Logistics from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Morgan Stanley reduced their target price on GXO Logistics from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

GXO Logistics Stock Down 0.2%

GXO stock traded down $0.09 during midday trading on Monday, hitting $53.64. The company’s stock had a trading volume of 72,602 shares, compared to its average volume of 1,352,716. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.14 billion, a PE ratio of 101.07, a P/E/G ratio of 2.15 and a beta of 1.64. The firm’s 50-day moving average is $51.70 and its 200-day moving average is $45.38. GXO Logistics has a 12 month low of $30.46 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last posted its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. GXO Logistics’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that GXO Logistics will post 2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Chapman Financial Group LLC bought a new position in shares of GXO Logistics in the second quarter worth about $34,000. Larson Financial Group LLC grew its stake in GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock worth $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC grew its stake in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new position in GXO Logistics in the first quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. grew its position in shares of GXO Logistics by 1,964.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 929 shares of the company’s stock worth $45,000 after buying an additional 884 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

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.