GXO Logistics (NYSE:GXO) Price Target Lowered to $74.00 at Loop Capital

GXO Logistics (NYSE:GXO) had its target price dropped by equities research analysts at Loop Capital from $76.00 to $74.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective would suggest a potential upside of 51.17% from the company’s previous close.

Several other equities analysts also recently commented on the company. TD Cowen boosted their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Susquehanna boosted their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Stifel Nicolaus boosted their price objective on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Wednesday, March 27th. Finally, Citigroup decreased their target price 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.54.

GXO Logistics Stock Performance

NYSE:GXO traded up $0.10 during mid-day trading on Thursday, hitting $48.95. 121,746 shares of the company traded hands, compared to its average volume of 873,289. The stock’s fifty day moving average price is $51.84 and its 200-day moving average price is $54.82. GXO Logistics has a one year low of $48.12 and a one year 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. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating 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 business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Research analysts anticipate that GXO Logistics will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the business’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 transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GXO Logistics

Large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its stake in GXO Logistics by 217.2% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 291 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of GXO Logistics during the third quarter valued at approximately $31,000. Geneos Wealth Management Inc. bought a new position in shares of GXO Logistics during the first quarter valued at approximately $39,000. Coppell Advisory Solutions LLC bought a new position in shares of GXO Logistics during the second quarter valued at approximately $48,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of GXO Logistics by 58.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock valued at $44,000 after buying an additional 320 shares during the last quarter. 90.67% of the stock is owned by 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.