GXO Logistics (NYSE:GXO) Given New $67.00 Price Target at Oppenheimer

GXO Logistics (NYSE:GXO - Get Free Report) had its price target lifted by stock analysts at Oppenheimer from $63.00 to $67.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 11.00% from the stock's previous close.

A number of other analysts have also recently commented on the stock. Susquehanna lowered 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. TD Cowen lifted their price objective 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. Barclays upped their target price on GXO Logistics from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Citigroup initiated coverage on GXO Logistics in a research report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price target for the company. Finally, UBS Group increased their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, GXO Logistics has an average rating of "Moderate Buy" and an average price target of $67.00.

GXO Logistics Stock Down 0.2 %

Shares of GXO Logistics stock traded down $0.14 on Wednesday, reaching $60.36. The stock had a trading volume of 441,359 shares, compared to its average volume of 926,707. The company has a 50 day moving average price of $57.45 and a 200 day moving average price of $52.83. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. GXO Logistics has a 1 year low of $46.07 and a 1 year high of $63.33. The stock has a market capitalization of $7.21 billion, a P/E ratio of 67.19, a P/E/G ratio of 1.85 and a beta of 1.55.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The company 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 firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. As a group, equities research analysts forecast that GXO Logistics will post 2.77 EPS for the current year.

Hedge Funds Weigh In On GXO Logistics

Several large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in GXO Logistics in the 3rd quarter worth about $28,000. UMB Bank n.a. increased its position in shares of GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company's stock valued at $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC raised its stake in shares of 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 period. Hara Capital LLC purchased a new position in shares of GXO Logistics during the 3rd quarter valued at approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in GXO Logistics by 37.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock valued at $54,000 after acquiring an additional 282 shares during the period. 90.67% of the stock is currently 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.