TD Cowen Forecasts Strong Price Appreciation for GXO Logistics (NYSE:GXO) Stock

GXO Logistics (NYSE:GXO) had its price objective lifted by research analysts at TD Cowen from $82.00 to $83.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 37.37% from the stock’s previous close.

GXO has been the topic of several other research reports. Susquehanna lowered their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price objective on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. UBS Group cut their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.55.

GXO Logistics Stock Performance

Shares of GXO stock opened at $60.42 on Wednesday. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33. The stock’s 50-day moving average price is $54.76 and its 200 day moving average price is $51.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $7.22 billion, a PE ratio of 67.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a return on equity of 10.21% and a net margin of 0.97%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts forecast that GXO Logistics will post 2.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics during the 3rd quarter worth approximately $28,000. UMB Bank n.a. raised its holdings in shares of GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after acquiring an additional 331 shares during the last quarter. Signaturefd LLC lifted its position in shares of GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of GXO Logistics in the third quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 valued at $54,000 after acquiring an additional 282 shares during the last quarter. 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.