GXO Logistics (NYSE:GXO) Price Target Lowered to $74.00 at Loop Capital

GXO Logistics (NYSE:GXO) had its target price reduced by research analysts at Loop Capital from $76.00 to $74.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 51.17% from the stock’s current price.

Other analysts have also recently issued reports about the stock. TD Cowen increased their target price on shares of GXO Logistics from $70.00 to $78.00 and gave the stock an “outperform” 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 on the stock in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Stifel Nicolaus increased their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, Citigroup dropped their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.54.

GXO Logistics Stock Up 0.2 %

NYSE:GXO traded up $0.10 during trading hours on Thursday, hitting $48.95. The stock had a trading volume of 121,746 shares, compared to its average volume of 873,289. GXO Logistics has a 1-year low of $48.12 and a 1-year high of $67.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.85 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.64. The business has a 50 day simple moving average of $51.84 and a two-hundred day simple moving average of $54.82.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm posted $0.83 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that GXO Logistics will post 2.77 EPS for the current year.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On GXO Logistics

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its position in shares of GXO Logistics by 217.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 291 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of GXO Logistics during the 3rd quarter valued at about $31,000. Geneos Wealth Management Inc. bought a new position in shares of GXO Logistics during the 1st quarter valued at about $39,000. Nomura Asset Management Co. Ltd. boosted its position in shares of GXO Logistics by 58.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock valued at $44,000 after purchasing an additional 320 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of GXO Logistics in the second quarter worth about $48,000. Institutional investors 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.