JPMorgan Chase & Co. Boosts GXO Logistics (NYSE:GXO) Price Target to $63.00

GXO Logistics (NYSE:GXO) had its price target upped by JPMorgan Chase & Co. from $61.00 to $63.00 in a report issued on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. TD Cowen boosted their target price on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a buy rating in a report on Thursday, May 9th. Stifel Nicolaus reissued a buy rating and set a $74.00 target price on shares of GXO Logistics in a report on Wednesday, May 15th. BNP Paribas raised shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price on the stock in a report on Wednesday, March 27th. Loop Capital reduced their target price on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, Morgan Stanley reissued an overweight rating and set a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $68.69.

GXO Logistics Stock Performance

Shares of GXO Logistics stock opened at $52.06 on Tuesday. The company’s 50 day moving average price is $50.13 and its two-hundred day moving average price is $52.47. The firm has a market capitalization of $6.22 billion, a P/E ratio of 37.45, a P/E/G ratio of 1.47 and a beta of 1.60. GXO Logistics has a fifty-two week low of $46.38 and a fifty-two week high of $67.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. GXO Logistics’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. On average, equities analysts forecast that GXO Logistics will post 2.77 earnings per share for the current fiscal year.

Insider Activity at GXO Logistics

In related news, CEO Malcolm Wilson bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the transaction, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GXO. Swedbank AB acquired a new position in shares of GXO Logistics during the 1st quarter valued at $84,672,000. Norges Bank acquired a new position in GXO Logistics during the fourth quarter worth $65,002,000. Fort Pitt Capital Group LLC raised its holdings in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after buying an additional 698,180 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in GXO Logistics by 3,033.0% during the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock worth $34,873,000 after buying an additional 552,000 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its holdings in GXO Logistics by 307.5% during the first quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock worth $34,865,000 after buying an additional 489,369 shares during 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.