GXO Logistics (NYSE:GXO) Price Target Increased to $63.00 by Analysts at JPMorgan Chase & Co.

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

GXO has been the topic of a number of other reports. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price target on the stock in a research report on Wednesday, March 27th. Loop Capital cut 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. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a report on Friday, June 7th. They issued an overweight rating and a $58.00 target price on the stock. Stifel Nicolaus restated a buy rating and issued a $74.00 target price on shares of GXO Logistics in a report on Wednesday, May 15th. Finally, Morgan Stanley restated an overweight rating and issued a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics presently has an average rating of Moderate Buy and a consensus target price of $68.69.

GXO Logistics Stock Up 7.0 %

Shares of NYSE GXO opened at $52.06 on Tuesday. GXO Logistics has a one year low of $46.38 and a one year 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. The firm’s 50 day simple moving average is $50.13 and its two-hundred day simple moving average is $52.47. The stock has a market capitalization of $6.22 billion, a P/E ratio of 37.45, a PEG ratio of 1.47 and a beta of 1.60.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts expect that GXO Logistics will post 2.77 EPS for the current fiscal year.

Insider Activity at GXO Logistics

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

Hedge Funds Weigh In On GXO Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in GXO Logistics by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after buying an additional 82,485 shares during the period. Clearbridge Investments LLC lifted its position in GXO Logistics by 0.5% during the first quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock valued at $158,967,000 after buying an additional 15,463 shares during the period. Fort Pitt Capital Group LLC lifted its position 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 valued at $99,647,000 after buying an additional 698,180 shares during the period. Swedbank AB purchased a new position in GXO Logistics during the first quarter valued at $84,672,000. Finally, Charles Schwab Investment Management Inc. lifted its position in GXO Logistics by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,844 shares of the company’s stock valued at $69,407,000 after buying an additional 21,454 shares during the period. Hedge funds and other 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.