GXO Logistics Sees Unusually High Options Volume (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXO) saw unusually large options trading on Wednesday. Stock traders bought 10,006 call options on the stock. This represents an increase of 264% compared to the average volume of 2,749 call options.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $59.81 on Friday. The company has a 50 day simple moving average of $53.78 and a two-hundred day simple moving average of $51.63. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 1.81 and a beta of 1.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics has a 12 month low of $46.07 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. As a group, analysts predict that GXO Logistics will post 2.78 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Hedge funds have recently bought and sold shares of the business. George Kaiser Family Foundation acquired a new stake in shares of GXO Logistics in the first quarter valued at about $1,014,000. Retirement Systems of Alabama increased its stake in GXO Logistics by 6.1% during the 1st quarter. Retirement Systems of Alabama now owns 318,034 shares of the company’s stock worth $17,098,000 after buying an additional 18,184 shares in the last quarter. Raymond James & Associates raised its holdings in shares of GXO Logistics by 16.3% during the third quarter. Raymond James & Associates now owns 466,749 shares of the company’s stock valued at $24,304,000 after acquiring an additional 65,534 shares during the last quarter. Swedbank AB raised its holdings in shares of GXO Logistics by 15.9% during the second quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock valued at $92,162,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of GXO Logistics by 269.1% in the second quarter. Harbor Capital Advisors Inc. now owns 22,928 shares of the company’s stock worth $1,158,000 after acquiring an additional 16,716 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup began coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. UBS Group lowered their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Susquehanna dropped their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price target on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Company Profile

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.