GXO Logistics, Inc. (NYSE:GXO) Short Interest Up 12.3% in December

GXO Logistics, Inc. (NYSE:GXO) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,640,000 shares, an increase of 12.3% from the December 15th total of 3,240,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

GXO has been the subject of a number of analyst reports. TD Cowen boosted their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer boosted their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. UBS Group raised their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays reduced their price target on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Finally, Citigroup began coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, 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 $0.39 on Monday, hitting $43.98. 888,946 shares of the stock traded hands, compared to its average volume of 1,483,056. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics has a 1-year low of $41.38 and a 1-year high of $63.33. The company’s fifty day moving average is $50.21 and its 200 day moving average is $52.07. The company has a market capitalization of $5.25 billion, a PE ratio of 48.86, a PEG ratio of 1.10 and a beta of 1.60.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. On average, equities research analysts predict that GXO Logistics will post 2.74 earnings per share for the current fiscal year.

Institutional Trading of GXO Logistics

Several hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in GXO Logistics in the 3rd quarter valued at about $28,000. UMB Bank n.a. increased its position in GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after acquiring an additional 331 shares during the period. Signaturefd LLC lifted its holdings in GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares during the period. Hara Capital LLC bought a new position in GXO Logistics during the 3rd quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in 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 in the last quarter. 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.