GXO Logistics (NYSE:GXO) Coverage Initiated at Truist Financial

Analysts at Truist Financial initiated coverage on shares of GXO Logistics (NYSE:GXO) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “hold” rating and a $40.00 price target on the stock. Truist Financial’s price objective indicates a potential downside of 0.64% from the stock’s previous close.

A number of other analysts also recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Barclays dropped their price target on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. UBS Group cut their price target on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 14th. Wells Fargo & Company lowered their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Morgan Stanley cut their target price on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus target price of $55.60.

GXO Logistics Stock Performance

Shares of GXO opened at $40.26 on Thursday. The firm has a market capitalization of $4.81 billion, a PE ratio of 35.94, a P/E/G ratio of 1.34 and a beta of 1.62. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $42.08 and a 200 day moving average price of $49.43. GXO Logistics has a 52-week low of $34.51 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. On average, sell-side analysts anticipate that GXO Logistics will post 2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new stake in GXO Logistics during the 4th quarter worth about $41,000. Summit Securities Group LLC boosted its holdings in shares of GXO Logistics by 870.9% during the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock worth $44,000 after purchasing an additional 897 shares during the period. R Squared Ltd purchased a new position in GXO Logistics during the fourth quarter valued at approximately $54,000. Quarry LP increased its stake in GXO Logistics by 1,334.9% in the 4th quarter. Quarry LP now owns 1,234 shares of the company’s stock valued at $54,000 after buying an additional 1,148 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after buying an additional 290 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

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.