TD Cowen Boosts GXO Logistics (NYSE:GXO) Price Target to $80.00

GXO Logistics (NYSE:GXO) had its target price lifted by TD Cowen from $78.00 to $80.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus upped their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lowered their price objective on GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research report on Tuesday, April 9th. Citigroup lowered their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, February 15th. Loop Capital lowered their price objective on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Finally, Susquehanna upped their price objective on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GXO Logistics presently has a consensus rating of Moderate Buy and an average price target of $69.69.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $50.51 on Thursday. The business’s 50 day moving average price is $50.97 and its 200 day moving average price is $54.51. The firm has a market cap of $6.03 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.12 and a beta of 1.64. GXO Logistics has a 52 week low of $48.11 and a 52 week high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. GXO Logistics’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. On average, sell-side analysts expect that GXO Logistics will post 2.78 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 firm’s stock in a transaction dated 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 owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Payden & Rygel Investment Group acquired a new position in GXO Logistics during the third quarter worth approximately $18,272,000. Amalgamated Bank increased its holdings in shares of GXO Logistics by 13.9% in the third quarter. Amalgamated Bank now owns 87,426 shares of the company’s stock valued at $5,128,000 after purchasing an additional 10,660 shares during the period. Federated Hermes Inc. increased its holdings in shares of GXO Logistics by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock valued at $68,925,000 after purchasing an additional 33,320 shares during the period. Retirement Planning Co of New England Inc. increased its holdings in shares of GXO Logistics by 79.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 22,978 shares of the company’s stock valued at $1,348,000 after purchasing an additional 10,141 shares during the period. Finally, WASHINGTON TRUST Co increased its holdings in shares of GXO Logistics by 17.0% in the fourth quarter. WASHINGTON TRUST Co now owns 184,697 shares of the company’s stock valued at $11,296,000 after purchasing an additional 26,831 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.