GXO Logistics (NYSE:GXO) Reaches New 1-Year Low - Here's What Happened

Shares of GXO Logistics, Inc. (NYSE:GXO - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $30.46 and last traded at $35.61, with a volume of 3114014 shares. The stock had previously closed at $31.53.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GXO. Citigroup lowered their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Stifel Nicolaus reaffirmed a "buy" rating and set a $66.00 target price (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.93.

GXO Logistics Trading Up 0.5 %

The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $4.14 billion, a PE ratio of 30.96, a P/E/G ratio of 1.34 and a beta of 1.56. The stock has a 50 day moving average price of $38.78 and a 200-day moving average price of $47.39.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. Sell-side analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Several hedge funds have recently modified their holdings of the stock. Stifel Financial Corp lifted its position in shares of GXO Logistics by 95.8% in the third quarter. Stifel Financial Corp now owns 76,045 shares of the company's stock worth $3,960,000 after buying an additional 37,197 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in GXO Logistics by 6.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company's stock valued at $20,904,000 after purchasing an additional 31,015 shares in the last quarter. Tidal Investments LLC bought a new position in GXO Logistics during the third quarter valued at $667,000. Barclays PLC grew its stake in shares of GXO Logistics by 28.9% in the 3rd quarter. Barclays PLC now owns 62,545 shares of the company's stock worth $3,256,000 after buying an additional 14,020 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of GXO Logistics by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company's stock valued at $103,279,000 after buying an additional 29,992 shares in the last quarter. Hedge funds and other 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.