TD Cowen Raises GXO Logistics (NYSE:GXO) Price Target to $80.00

GXO Logistics (NYSE:GXO) had its target price lifted by TD Cowen from $78.00 to $80.00 in a research note released on Thursday, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on GXO. BNP Paribas raised GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price for the company in a report on Wednesday, March 27th. Citigroup reduced their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research note on Thursday, February 15th. JPMorgan Chase & Co. dropped their target price 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. Loop Capital reduced their price target on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna lifted their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $69.69.

GXO Logistics Stock Performance

Shares of GXO opened at $50.51 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day moving average is $50.97 and its 200-day moving average is $54.52. GXO Logistics has a 12-month low of $48.11 and a 12-month high of $67.57. The stock has a market capitalization of $6.03 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.12 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Equities research analysts anticipate that GXO Logistics will post 2.78 EPS for the current fiscal year.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the sale, the director now directly owns 20,851 shares in the company, valued at $1,042,550. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GXO Logistics

A number of hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of GXO Logistics during the 3rd quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in GXO Logistics in the 4th quarter worth $59,000. CWM LLC increased its holdings in shares of GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock worth $109,000 after purchasing an additional 390 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of GXO Logistics by 81.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,912 shares of the company’s stock worth $112,000 after purchasing an additional 861 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of GXO Logistics by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after buying an additional 287 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.