Citigroup Initiates Coverage on GXO Logistics (NYSE:GXO)

Citigroup started coverage on shares of GXO Logistics (NYSE:GXO) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 19.71% from the stock’s previous close.

A number of other research firms also recently issued reports on GXO. Susquehanna dropped their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, UBS Group reduced 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.91.

GXO Logistics Stock Performance

Shares of GXO opened at $50.12 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $49.78 and its two-hundred day simple moving average is $50.56. GXO Logistics has a 12 month low of $46.07 and a 12 month high of $63.07. The stock has a market capitalization of $5.99 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, analysts predict that GXO Logistics will post 2.79 EPS for the current year.

Hedge Funds Weigh In On GXO Logistics

Several large investors have recently added to or reduced their stakes in GXO. UMB Bank n.a. raised its stake 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 purchasing an additional 331 shares during the last quarter. CWM LLC grew its holdings in GXO Logistics by 13.8% during the third quarter. CWM LLC now owns 1,961 shares of the company’s stock worth $102,000 after buying an additional 238 shares in the last quarter. Daymark Wealth Partners LLC grew its holdings in GXO Logistics by 37.3% during the third quarter. Daymark Wealth Partners LLC now owns 8,396 shares of the company’s stock worth $437,000 after buying an additional 2,282 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in GXO Logistics in the 3rd quarter valued at $209,000. Finally, Blue Zone Wealth Advisors LLC lifted its stake in GXO Logistics by 2.2% during the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 47,942 shares of the company’s stock valued at $2,496,000 after acquiring an additional 1,031 shares in the last quarter. Institutional investors 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.