Truist Financial Increases GXO Logistics (NYSE:GXO) Price Target to $70.00

GXO Logistics (NYSE:GXO) had its target price raised by equities researchers at Truist Financial from $65.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 6.99% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Morgan Stanley increased their price objective on GXO Logistics from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Wells Fargo & Company upped their target price on shares of GXO Logistics from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of GXO Logistics in a research note on Thursday. Weiss Ratings raised shares of GXO Logistics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Citigroup increased their price objective on shares of GXO Logistics from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.75.

GXO Logistics Stock Up 1.8%

Shares of GXO Logistics stock opened at $65.42 on Thursday. The company has a 50-day simple moving average of $55.95 and a two-hundred day simple moving average of $53.33. The stock has a market capitalization of $7.49 billion, a PE ratio of 218.08, a price-to-earnings-growth ratio of 2.18 and a beta of 1.65. GXO Logistics has a 52-week low of $30.46 and a 52-week high of $66.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.71 and a current ratio of 0.85.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. GXO Logistics had a net margin of 0.24% and a return on equity of 9.83%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that GXO Logistics will post 2.49 EPS for the current fiscal year.

Insider Activity at GXO Logistics

In other GXO Logistics news, Director Todd C. Cooper acquired 6,000 shares of the stock in a transaction dated Friday, November 28th. The shares were purchased at an average price of $50.59 per share, for a total transaction of $303,540.00. Following the purchase, the director directly owned 10,040 shares of the company’s stock, valued at approximately $507,923.60. This trade represents a 148.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of GXO Logistics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of GXO Logistics by 15.1% during the third quarter. Principal Financial Group Inc. now owns 404,878 shares of the company’s stock valued at $21,414,000 after purchasing an additional 52,979 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of GXO Logistics by 22.0% in the third quarter. New York State Common Retirement Fund now owns 259,492 shares of the company’s stock worth $13,725,000 after buying an additional 46,853 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of GXO Logistics during the 3rd quarter valued at approximately $795,000. William Blair Investment Management LLC grew its holdings in shares of GXO Logistics by 52.3% in the second quarter. William Blair Investment Management LLC now owns 530,999 shares of the company’s stock valued at $25,860,000 after purchasing an additional 182,338 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of GXO Logistics by 3.4% in the second quarter. US Bancorp DE now owns 14,319 shares of the company’s stock valued at $697,000 after purchasing an additional 471 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

About GXO Logistics

GXO Logistics (NYSE: GXO) is a global contract logistics provider specializing in warehousing, distribution, and value-added supply chain services. Established in August 2021 as a spin-off from XPO Logistics, the company has built its reputation on integrating advanced technology and automation into traditional logistics operations. GXO’s core offerings include e-commerce fulfillment, inventory management, returns processing, and reverse logistics, supported by a network of fulfillment centers and distribution hubs designed to optimize order accuracy and delivery speed.

The company serves customers across a diverse array of industries, including retail, technology, consumer goods, automotive, industrial, and healthcare.