GXO Logistics (NYSE:GXO) Given New $63.00 Price Target at JPMorgan Chase & Co.

GXO Logistics (NYSE:GXOGet Free Report) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $61.00 to $63.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 29.52% from the company’s current price.

A number of other equities research analysts have also recently commented on GXO. Loop Capital lowered their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target on shares of GXO Logistics in a research report on Tuesday, May 14th. Wells Fargo & Company began coverage on GXO Logistics in a research report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective on the stock. Finally, TD Cowen lifted their price objective on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.69.

View Our Latest Stock Analysis on GXO

GXO Logistics Trading Up 0.9 %

Shares of GXO Logistics stock opened at $48.64 on Tuesday. The company has a 50-day moving average of $50.09 and a two-hundred day moving average of $52.47. The stock has a market cap of $5.81 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 1.47 and a beta of 1.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.52. GXO Logistics has a 12-month low of $46.38 and a 12-month high of $67.57.

GXO Logistics (NYSE:GXOGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. GXO Logistics’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, research analysts anticipate that GXO Logistics will post 2.77 EPS for the current fiscal year.

Insider Activity at GXO Logistics

In related news, CEO Malcolm Wilson purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the acquisition, the chief executive officer now directly owns 100,814 shares in the company, valued at $5,035,659.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On GXO Logistics

Large investors have recently modified their holdings of the company. Graham Capital Management L.P. raised its holdings in GXO Logistics by 319.4% in the third quarter. Graham Capital Management L.P. now owns 38,532 shares of the company’s stock valued at $2,260,000 after buying an additional 29,344 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of GXO Logistics by 94.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,516 shares of the company’s stock valued at $2,377,000 after acquiring an additional 19,629 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of GXO Logistics by 2.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 220,926 shares of the company’s stock valued at $13,512,000 after acquiring an additional 4,762 shares during the period. Blue Zone Wealth Advisors LLC lifted its holdings in shares of GXO Logistics by 0.6% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 46,669 shares of the company’s stock valued at $2,854,000 after acquiring an additional 301 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in GXO Logistics by 0.3% during the 4th quarter. Gilman Hill Asset Management LLC now owns 56,156 shares of the company’s stock worth $3,435,000 after purchasing an additional 170 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Company Profile

(Get Free Report)

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.

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