GXO Logistics (NYSE:GXO) Earns Outperform Rating from Analysts at Cowen

Equities researchers at Cowen began coverage on shares of GXO Logistics (NYSE:GXOGet Rating) in a note issued to investors on Monday, Briefing.com reports. The brokerage set an “outperform” rating and a $64.00 price target on the stock. Cowen’s price target would indicate a potential upside of 17.58% from the stock’s previous close.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded GXO Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, February 15th. Stifel Nicolaus initiated coverage on GXO Logistics in a research note on Tuesday, March 1st. They set a “buy” rating and a $94.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of GXO Logistics from $100.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Oppenheimer cut their price target on GXO Logistics from $108.00 to $91.00 in a report on Monday, May 9th. Finally, Wells Fargo & Company raised their price objective on shares of GXO Logistics from $105.00 to $110.00 in a research note on Thursday, February 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $95.88.

GXO stock opened at $54.43 on Monday. GXO Logistics has a 52-week low of $48.38 and a 52-week high of $105.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $59.70 and a two-hundred day moving average of $75.69. The stock has a market cap of $6.25 billion and a price-to-earnings ratio of 35.81.

GXO Logistics (NYSE:GXOGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. GXO Logistics had a return on equity of 9.11% and a net margin of 2.15%. GXO Logistics’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. As a group, sell-side analysts anticipate that GXO Logistics will post 2.87 EPS for the current year.

In related news, Director S Jacobs Bradley sold 5,447,500 shares of GXO Logistics stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $57.24, for a total transaction of $311,814,900.00. Following the sale, the director now directly owns 6,468,201 shares of the company’s stock, valued at approximately $370,239,825.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Several hedge funds and other institutional investors have recently modified their holdings of GXO. Quent Capital LLC bought a new stake in GXO Logistics during the 4th quarter valued at $25,000. Prospera Financial Services Inc purchased a new position in shares of GXO Logistics in the 1st quarter worth about $31,000. Cohen & Steers Inc. purchased a new stake in GXO Logistics during the third quarter valued at about $35,000. Point72 Hong Kong Ltd purchased a new stake in GXO Logistics during the fourth quarter valued at about $37,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of GXO Logistics in the third quarter worth about $38,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

GXO Logistics Company Profile (Get Rating)

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

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Analyst Recommendations for GXO Logistics (NYSE:GXO)

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