Morgan Stanley Has Lowered Expectations for GXO Logistics (NYSE:GXO) Stock Price

GXO Logistics (NYSE:GXO) had its price target reduced by research analysts at Morgan Stanley from $63.00 to $57.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 44.34% from the company’s previous close.

Several other analysts have also recently commented on GXO. TD Cowen lifted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Loop Capital cut shares of GXO Logistics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Barclays lowered their target price on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group lifted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer lifted their target price 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, GXO Logistics presently has a consensus rating of “Moderate Buy” and an average price target of $58.54.

GXO Logistics Stock Up 8.8 %

GXO stock opened at $39.49 on Friday. The company’s 50 day simple moving average is $44.40 and its 200-day simple moving average is $50.83. The firm has a market capitalization of $4.72 billion, a PE ratio of 43.88, a P/E/G ratio of 1.19 and a beta of 1.60. GXO Logistics has a 12 month low of $34.51 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86.

GXO Logistics (NYSE:GXO) last released its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. Equities analysts expect that GXO Logistics will post 2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GXO Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nexpoint Asset Management L.P. acquired a new position in shares of GXO Logistics during the 4th quarter valued at $352,000. One68 Global Capital LLC acquired a new position in shares of GXO Logistics during the 4th quarter valued at $914,000. Soros Fund Management LLC acquired a new position in shares of GXO Logistics during the 4th quarter valued at $2,175,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of GXO Logistics by 79.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 46,069 shares of the company’s stock valued at $2,004,000 after acquiring an additional 20,446 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of GXO Logistics by 23.6% during the 4th quarter. Northern Trust Corp now owns 1,005,232 shares of the company’s stock valued at $43,728,000 after acquiring an additional 191,648 shares in the last quarter. Institutional investors and hedge funds 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.