GXO Logistics (NYSE:GXO) Upgraded at BNP Paribas

BNP Paribas upgraded shares of GXO Logistics (NYSE:GXO) from an underperform rating to a neutral rating in a report issued on Wednesday, MarketBeat.com reports. BNP Paribas currently has $50.00 price objective on the stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their target price on GXO Logistics from $69.00 to $67.00 and set an overweight rating on the stock in a report on Thursday, December 21st. Stifel Nicolaus lifted their target price on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. TD Cowen lifted their target price on GXO Logistics from $70.00 to $78.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Susquehanna lifted their target price on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. Finally, Citigroup reduced their target price on GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $69.33.

GXO Logistics Stock Up 2.1 %

NYSE:GXO opened at $53.76 on Wednesday. GXO Logistics has a 12-month low of $47.81 and a 12-month high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.41 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.21 and a beta of 1.63. The stock’s fifty day simple moving average is $53.00 and its 200-day simple moving average is $55.53.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. Equities research analysts expect that GXO Logistics will post 2.79 earnings per share for the current year.

Insider Activity at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction dated Thursday, March 7th. The stock was 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 of the company’s stock, valued at $1,042,550. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GXO Logistics news, Director Gena L. Ashe sold 10,526 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $58.15, for a total transaction of $612,086.90. Following the transaction, the director now owns 15,062 shares of the company’s stock, valued at $875,855.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On GXO Logistics

A number of institutional investors have recently bought and sold shares of GXO. Citigroup Inc. increased its position in GXO Logistics by 25.6% during the first quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock worth $1,208,000 after buying an additional 3,457 shares during the last quarter. Bank of Montreal Can increased its position in GXO Logistics by 175.7% during the first quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock worth $1,843,000 after buying an additional 15,615 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in GXO Logistics by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock worth $2,578,000 after buying an additional 3,445 shares during the last quarter. Raymond James Trust N.A. increased its position in GXO Logistics by 44.8% during the first quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock worth $427,000 after buying an additional 1,849 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of GXO Logistics by 2.5% in the first quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock valued at $12,069,000 after purchasing an additional 4,084 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.