GXO Logistics (NYSE:GXO) Price Target Raised to $74.00

GXO Logistics (NYSE:GXOGet Rating) had its price target lifted by Loop Capital from $67.00 to $74.00 in a research note published on Friday, The Fly reports.

Other analysts also recently issued research reports about the stock. BNP Paribas began coverage on shares of GXO Logistics in a research report on Thursday, December 1st. They set a neutral rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on GXO Logistics from $68.00 to $53.00 in a research note on Monday, November 28th. Barclays raised their price objective on GXO Logistics from $40.00 to $52.00 and gave the stock an equal weight rating in a research note on Wednesday, January 11th. Morgan Stanley upgraded GXO Logistics from an equal weight rating to an overweight rating and raised their price objective for the stock from $45.00 to $60.00 in a research note on Monday, January 9th. Finally, Jefferies Financial Group started coverage on GXO Logistics in a research note on Monday, October 24th. They set a buy rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $63.50.

GXO Logistics Stock Up 2.7 %

GXO stock opened at $53.26 on Friday. GXO Logistics has a twelve month low of $32.10 and a twelve month high of $91.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $6.32 billion, a P/E ratio of 30.09, a PEG ratio of 1.84 and a beta of 1.55. The firm has a 50 day simple moving average of $43.87 and a 200-day simple moving average of $42.54.

GXO Logistics (NYSE:GXOGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. GXO Logistics had a net margin of 2.36% and a return on equity of 12.90%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, equities research analysts predict that GXO Logistics will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In related news, CEO Malcolm Wilson bought 4,174 shares of the business’s stock in a transaction on Friday, November 25th. The shares were bought at an average cost of $43.97 per share, for a total transaction of $183,530.78. Following the completion of the purchase, the chief executive officer now owns 45,509 shares of the company’s stock, valued at approximately $2,001,030.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GXO Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of GXO Logistics by 8.8% during the third quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock valued at $378,512,000 after purchasing an additional 870,382 shares in the last quarter. BlackRock Inc. raised its stake in shares of GXO Logistics by 2.4% during the third quarter. BlackRock Inc. now owns 10,655,357 shares of the company’s stock valued at $373,578,000 after purchasing an additional 254,581 shares in the last quarter. Pendal Group Ltd raised its stake in shares of GXO Logistics by 87.9% during the third quarter. Pendal Group Ltd now owns 6,105,398 shares of the company’s stock valued at $214,055,000 after purchasing an additional 2,856,645 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of GXO Logistics by 8.3% during the third quarter. Neuberger Berman Group LLC now owns 4,912,126 shares of the company’s stock valued at $172,219,000 after purchasing an additional 374,743 shares in the last quarter. Finally, State Street Corp raised its stake in shares of GXO Logistics by 8.2% during the third quarter. State Street Corp now owns 3,207,405 shares of the company’s stock valued at $112,452,000 after purchasing an additional 242,249 shares in the last quarter. 99.47% of the stock is currently owned by institutional investors.

About GXO Logistics

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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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