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

GXO Logistics, Inc. (NYSE:GXO) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,640,000 shares, a growth of 12.3% from the December 31st total of 3,240,000 shares. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.1% of the company’s stock are short sold.

Hedge Funds Weigh In On GXO Logistics

A number of hedge funds and other institutional investors have recently made changes to their positions in GXO. Vaughan Nelson Investment Management L.P. purchased a new stake in GXO Logistics in the 4th quarter valued at approximately $47,626,000. Global Alpha Capital Management Ltd. purchased a new stake in GXO Logistics in the 3rd quarter valued at approximately $32,434,000. Brown Brothers Harriman & Co. boosted its holdings in GXO Logistics by 105.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock valued at $50,418,000 after purchasing an additional 495,829 shares in the last quarter. River Road Asset Management LLC boosted its holdings in GXO Logistics by 40.4% in the 3rd quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company’s stock valued at $68,135,000 after purchasing an additional 376,704 shares in the last quarter. Finally, Life Planning Partners Inc boosted its stake in shares of GXO Logistics by 4,250.0% during the 4th quarter. Life Planning Partners Inc now owns 263,393 shares of the company’s stock worth $11,458,000 after acquiring an additional 257,338 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Down 2.8 %

Shares of GXO Logistics stock traded down $1.26 during trading hours on Monday, reaching $44.19. 1,110,173 shares of the company were exchanged, compared to its average volume of 1,128,518. The firm has a market cap of $5.28 billion, a PE ratio of 49.10, a PEG ratio of 1.24 and a beta of 1.60. The stock’s fifty day moving average is $47.02 and its 200 day moving average is $51.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics has a 1 year low of $41.38 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm earned $0.69 earnings per share. GXO Logistics’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts forecast that GXO Logistics will post 2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays cut their target price on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. TD Cowen increased their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Citigroup started coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. Finally, Loop Capital lowered GXO Logistics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $71.00 to $49.00 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.46.

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.