Short Interest in GXO Logistics, Inc. (NYSE:GXO) Grows By 37.3%

GXO Logistics, Inc. (NYSE:GXO) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,240,000 shares, an increase of 37.3% from the November 30th total of 2,360,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is currently 2.2 days.

GXO Logistics Price Performance

GXO traded up $0.34 on Monday, hitting $43.14. 1,492,613 shares of the stock were exchanged, compared to its average volume of 1,002,504. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a 12 month low of $41.38 and a 12 month high of $63.33. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 1.49 and a beta of 1.52. The business has a 50-day moving average of $55.16 and a two-hundred day moving average of $52.57.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. Sell-side analysts forecast that GXO Logistics will post 2.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

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 3rd quarter valued at approximately $28,000. UMB Bank n.a. lifted its stake in shares of GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC grew its holdings in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares during the last quarter. Hara Capital LLC bought a new stake in shares of GXO Logistics during the third quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GXO shares. Barclays decreased their target price on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Susquehanna lowered their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Citigroup assumed coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. Oppenheimer raised their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, TD Cowen upped their price objective on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $66.33.

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.