GXO Logistics (NYSE:GXO) Upgraded by BNP Paribas to “Neutral”

BNP Paribas upgraded shares of GXO Logistics (NYSE:GXO) from an underperform rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has $50.00 price target on the stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on GXO Logistics from $69.00 to $67.00 and set an overweight rating for the company in a report on Thursday, December 21st. TD Cowen increased their price target on GXO Logistics from $70.00 to $78.00 and gave the company an outperform rating in a report on Thursday, February 15th. Stifel Nicolaus increased their price target on GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a report on Wednesday, January 10th. Citigroup reduced their price target on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a report on Thursday, February 15th. Finally, Susquehanna increased their target price on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $69.33.

GXO Logistics Stock Performance

Shares of NYSE:GXO opened at $52.65 on Wednesday. The firm has a market capitalization of $6.28 billion, a PE ratio of 27.56, a P/E/G ratio of 2.14 and a beta of 1.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average of $53.08 and a two-hundred day moving average of $55.59. GXO Logistics has a 12 month low of $47.18 and a 12 month high of $67.57.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that GXO Logistics will post 2.79 earnings per share for the current year.

Insider Transactions at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gena L. Ashe sold 4,737 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gena L. Ashe sold 10,526 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $58.15, for a total value of $612,086.90. Following the completion of the sale, the director now owns 15,062 shares in the company, valued at $875,855.30. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of GXO Logistics

Several large investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its stake in GXO Logistics by 25.6% during the 1st quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock valued at $1,208,000 after purchasing an additional 3,457 shares in the last quarter. Bank of Montreal Can boosted its stake in GXO Logistics by 175.7% during the 1st quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock valued at $1,843,000 after purchasing an additional 15,615 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in GXO Logistics by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock valued at $2,578,000 after purchasing an additional 3,445 shares in the last quarter. Raymond James Trust N.A. boosted its stake in GXO Logistics by 44.8% during the 1st quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock valued at $427,000 after purchasing an additional 1,849 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in GXO Logistics by 2.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock valued at $12,069,000 after purchasing an additional 4,084 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

About GXO Logistics

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.