GXO Logistics, Inc. (NYSE:GXO) Sees Significant Increase in Short Interest

GXO Logistics, Inc. (NYSE:GXO) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 7,150,000 shares, an increase of 20.2% from the February 13th total of 5,950,000 shares. Currently, 6.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,710,000 shares, the short-interest ratio is currently 4.2 days.

GXO Logistics Stock Up 0.2 %

Shares of GXO stock traded up $0.09 during trading hours on Wednesday, reaching $40.82. The company had a trading volume of 992,739 shares, compared to its average volume of 1,143,484. GXO Logistics has a 12 month low of $34.51 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The business has a fifty day simple moving average of $41.91 and a 200-day simple moving average of $49.31. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last posted its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. On average, research analysts expect that GXO Logistics will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GXO has been the subject of several recent analyst reports. UBS Group decreased their target price on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Truist Financial initiated coverage on GXO Logistics in a research note on Thursday, March 13th. They set a “hold” rating and a $40.00 target price for the company. The Goldman Sachs Group decreased their target price on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company decreased their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 target price (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.60.

Institutional Trading of GXO Logistics

Institutional investors and hedge funds have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new stake in shares of GXO Logistics during the fourth quarter valued at approximately $41,000. Summit Securities Group LLC increased its position in GXO Logistics by 870.9% in the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 897 shares during the last quarter. R Squared Ltd purchased a new stake in GXO Logistics in the fourth quarter worth $54,000. Quarry LP increased its position in GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company’s stock worth $54,000 after buying an additional 1,148 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after buying an additional 290 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

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.