Wells Fargo & Company Cuts GXO Logistics (NYSE:GXO) Price Target to $44.00

GXO Logistics (NYSE:GXO) had its price target reduced by investment analysts at Wells Fargo & Company from $60.00 to $44.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.42% from the stock’s current price.

Several other research firms also recently commented on GXO. Morgan Stanley cut their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a report on Friday. TD Cowen increased their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays cut their price objective on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group cut their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.54.

GXO Logistics Trading Up 8.8 %

NYSE:GXO opened at $39.49 on Friday. GXO Logistics has a twelve month low of $34.51 and a twelve month high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $44.40 and a two-hundred day moving average price of $50.83. The company has a market cap of $4.72 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. As a group, analysts expect that GXO Logistics will post 2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GXO. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics during the 3rd quarter worth $28,000. Murphy & Mullick Capital Management Corp bought a new position in GXO Logistics during the 4th quarter worth $41,000. Summit Securities Group LLC increased its position in GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 897 shares during the period. Signaturefd LLC increased its position in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after buying an additional 249 shares during the period. Finally, Hara Capital LLC bought a new position in GXO Logistics during the 3rd quarter worth $50,000. 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.