GXO Logistics (NYSE:GXO) Now Covered by Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of GXO Logistics (NYSE:GXO) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $40.00 price target on the stock. Truist Financial’s target price points to a potential upside of 4.19% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on GXO. Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a research note on Friday, March 7th. They set a “hold” rating and a $45.00 price objective for the company. Barclays decreased their price objective on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Loop Capital cut GXO Logistics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Oppenheimer decreased their price objective on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley decreased their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

GXO Logistics Price Performance

Shares of GXO stock opened at $38.39 on Thursday. GXO Logistics has a twelve month low of $34.51 and a twelve month high of $63.33. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.34 and a beta of 1.62. The stock has a fifty day simple moving average of $42.23 and a two-hundred day simple moving average of $49.57. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share 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%. On average, analysts predict that GXO Logistics will post 2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Stifel Financial Corp increased its holdings 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 valued at $3,960,000 after purchasing an additional 37,197 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of GXO Logistics by 6.9% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GXO Logistics by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock valued at $26,153,000 after purchasing an additional 12,208 shares during the period. Tidal Investments LLC acquired a new position in shares of GXO Logistics in the third quarter valued at about $667,000. Finally, Barclays PLC increased its holdings in shares of GXO Logistics by 28.9% in the third quarter. Barclays PLC now owns 62,545 shares of the company’s stock valued at $3,256,000 after purchasing an additional 14,020 shares during the period. 90.67% of the stock is 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.