Morgan Stanley Cuts GXO Logistics (NYSE:GXO) Price Target to $58.00

GXO Logistics (NYSE:GXO) had its price target lowered by equities research analysts at Morgan Stanley from $60.00 to $58.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 7.99% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna increased their price target on shares of GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Oppenheimer lifted their price target on shares of GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. UBS Group increased their price target on shares of GXO Logistics from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus upped their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.93.

GXO Logistics Price Performance

GXO traded down $0.02 during trading on Monday, reaching $53.71. 40,733 shares of the company were exchanged, compared to its average volume of 1,352,655. GXO Logistics has a 12-month low of $30.46 and a 12-month high of $63.33. The company’s 50-day moving average is $51.70 and its two-hundred day moving average is $45.38. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 101.34, a P/E/G ratio of 2.15 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts forecast that GXO Logistics will post 2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Chapman Financial Group LLC purchased a new stake in GXO Logistics during the 2nd quarter valued at approximately $34,000. Larson Financial Group LLC lifted its stake in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after purchasing an additional 689 shares during the last quarter. GAMMA Investing LLC raised its holdings in GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after buying an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in GXO Logistics during the first quarter worth $34,000. Finally, Hantz Financial Services Inc. increased its position in GXO Logistics by 1,964.4% during the second quarter. Hantz Financial Services Inc. now owns 929 shares of the company’s stock valued at $45,000 after acquiring an additional 884 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

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.