GXO Logistics (NYSE:GXO) Given New $54.00 Price Target at The Goldman Sachs Group

GXO Logistics (NYSE:GXO - Free Report) had its price target decreased by The Goldman Sachs Group from $63.00 to $54.00 in a research report report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on GXO. Barclays decreased their target price on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 4th. TD Cowen boosted their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Susquehanna dropped their target price on GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Citigroup assumed coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Oppenheimer raised 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. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, GXO Logistics has a consensus rating of "Moderate Buy" and an average target price of $65.38.

GXO Logistics Stock Performance

Shares of GXO stock traded down $0.61 during mid-day trading on Thursday, reaching $44.32. The stock had a trading volume of 1,317,034 shares, compared to its average volume of 1,300,293. GXO Logistics has a 1-year low of $41.38 and a 1-year high of $63.33. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 1.10 and a beta of 1.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The business's fifty day moving average is $50.85 and its 200-day moving average is $52.12.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company earned $0.69 EPS. GXO Logistics's quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts forecast that GXO Logistics will post 2.74 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

A number of large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of GXO Logistics during the third quarter worth about $28,000. UMB Bank n.a. increased its stake 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 in the last quarter. Signaturefd LLC raised its holdings in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after acquiring an additional 249 shares during the last quarter. Hara Capital LLC purchased a new position in shares of GXO Logistics in the third quarter valued at approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock worth $54,000 after acquiring an additional 282 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

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.