GXO Logistics (NYSE:GXO) Stock Price Expected to Rise, Oppenheimer Analyst Says

GXO Logistics (NYSE:GXO) had its target price lifted by equities research analysts at Oppenheimer from $61.00 to $65.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer‘s price objective would indicate a potential upside of 18.25% from the stock’s current price.

GXO has been the subject of several other research reports. Stephens assumed coverage on shares of GXO Logistics in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $75.00 price objective for the company. Weiss Ratings upgraded shares of GXO Logistics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 16th. TD Cowen reaffirmed a “buy” rating on shares of GXO Logistics in a report on Wednesday. Truist Financial reduced their price target on shares of GXO Logistics from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Citigroup assumed coverage on GXO Logistics in a research note on Wednesday, July 15th. They set a “market outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.43.

GXO Logistics Stock Performance

NYSE GXO traded down $1.99 on Thursday, hitting $54.97. 746,654 shares of the company’s stock were exchanged, compared to its average volume of 1,352,711. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50-day moving average price is $47.28 and its two-hundred day moving average price is $51.78. GXO Logistics has a fifty-two week low of $43.61 and a fifty-two week high of $66.85. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 1.63 and a beta of 1.52.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, November 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. GXO Logistics had a return on equity of 10.92% and a net margin of 0.98%. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that GXO Logistics will post 3.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GXO. Trust Co. of Vermont purchased a new stake in shares of GXO Logistics in the 2nd quarter worth about $37,000. Integrated Wealth Concepts LLC purchased a new position in GXO Logistics during the 2nd quarter valued at about $48,000. Nykredit A S purchased a new position in GXO Logistics during the 2nd quarter valued at about $73,000. Covestor Ltd raised its position in GXO Logistics by 230.6% during the third quarter. Covestor Ltd now owns 1,792 shares of the company’s stock worth $80,000 after acquiring an additional 1,250 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in GXO Logistics by 14.3% during the third quarter. GAMMA Investing LLC now owns 1,841 shares of the company’s stock worth $82,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

About GXO Logistics

GXO Logistics, Inc (NYSE:GXO) is a contract logistics company that manages supply chain operations for businesses worldwide. Its services include warehousing, distribution, order fulfillment, transportation management, reverse logistics, and other value-added supply chain solutions.

The company supports customers across sectors such as retail, consumer goods, technology, healthcare, and industrial manufacturing. GXO uses warehouse automation, robotics, data analytics, and other technology to help customers improve inventory management, delivery speed, and operational efficiency.

GXO was formed through the spin-off of XPO’s logistics segment and began operating as an independent public company in 2021.