Oppenheimer Cuts GXO Logistics (NYSE:GXO) Price Target to $55.00

GXO Logistics (NYSE:GXO) had its target price lowered by Oppenheimer from $67.00 to $55.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also commented on GXO. Stifel Nicolaus restated a “buy” rating and issued a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. UBS Group reduced their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 14th. Morgan Stanley decreased their target price on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company dropped their price target on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, TD Cowen lifted 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.62.

GXO Logistics Stock Performance

NYSE:GXO opened at $39.83 on Tuesday. The firm’s 50-day moving average is $43.67 and its 200-day moving average is $50.47. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 1.37 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. GXO Logistics has a 52-week low of $34.51 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. Equities research analysts anticipate that GXO Logistics will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On GXO Logistics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new stake in shares of GXO Logistics during the third quarter worth $28,000. Murphy & Mullick Capital Management Corp bought a new stake in GXO Logistics during the 4th quarter worth about $41,000. Summit Securities Group LLC increased its position in GXO Logistics by 870.9% in the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after acquiring an additional 897 shares in the last quarter. Signaturefd LLC increased its position in GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares in the last quarter. Finally, Hara Capital LLC bought a new position in shares of GXO Logistics in the third quarter worth about $50,000. 90.67% of the stock is owned by institutional investors and hedge funds.

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.