UBS Group Issues Positive Forecast for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price objective raised by stock analysts at UBS Group from $66.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 18.05% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. TD Cowen boosted their price target on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna dropped their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $67.55.

GXO Logistics Trading Up 5.7 %

Shares of GXO Logistics stock traded up $3.29 during midday trading on Wednesday, reaching $60.99. The company had a trading volume of 796,759 shares, compared to its average volume of 927,528. The stock has a fifty day moving average price of $54.28 and a 200 day moving average price of $51.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $7.29 billion, a PE ratio of 52.13, a P/E/G ratio of 1.75 and a beta of 1.55. GXO Logistics has a fifty-two week low of $46.07 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts anticipate that GXO Logistics will post 2.78 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics during the third quarter worth approximately $28,000. UMB Bank n.a. grew its holdings in GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC grew its holdings in GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after buying an additional 249 shares in the last quarter. Hara Capital LLC bought a new stake in GXO Logistics during the third quarter worth $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after buying an additional 282 shares in the last quarter. 90.67% of the stock is 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.