GXO Logistics (NYSE:GXO) Shares Gap Down Following Analyst Downgrade

GXO Logistics, Inc. (NYSE:GXO) gapped down before the market opened on Wednesday after Barclays lowered their price target on the stock from $60.00 to $52.00. The stock had previously closed at $59.00, but opened at $53.00. Barclays currently has an equal weight rating on the stock. GXO Logistics shares last traded at $51.50, with a volume of 1,044,264 shares changing hands.

A number of other research firms also recently weighed in on GXO. TD Cowen lifted 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 shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective for the company. UBS Group upped their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Susquehanna reduced their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Oppenheimer increased their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and an average target price of $66.33.

Institutional Investors Weigh In On GXO Logistics

A number of hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics during the 3rd quarter worth about $28,000. UMB Bank n.a. raised its position in GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after buying an additional 331 shares during the last quarter. Signaturefd LLC raised its position in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after buying an additional 249 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of GXO Logistics during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Down 13.8 %

The business’s 50 day moving average is $58.28 and its 200-day moving average is $53.09. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 56.77, a PEG ratio of 1.83 and a beta of 1.52. 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 (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, sell-side analysts predict that GXO Logistics, Inc. will post 2.76 EPS for the current fiscal year.

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.