Barclays Forecasts Strong Price Appreciation for GXO Logistics (NYSE:GXO) Stock

GXO Logistics (NYSE:GXO) had its price target raised by analysts at Barclays from $65.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 37.23% from the stock’s current price.

GXO has been the subject of several other reports. Truist Financial lowered their price target on GXO Logistics from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Susquehanna boosted their price objective on GXO Logistics from $60.00 to $66.00 and gave the company a “positive” rating in a report on Friday, November 6th. UBS Group increased their target price on GXO Logistics from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. TD Cowen raised their target price on GXO Logistics from $69.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Finally, Citizens Jmp initiated coverage on GXO Logistics in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $80.00 target price for the company. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.29.

GXO Logistics Trading Up 0.6%

NYSE GXO opened at $54.65 on Thursday. The firm’s 50-day moving average is $48.38 and its two-hundred day moving average is $51.72. GXO Logistics has a 12 month low of $43.61 and a 12 month high of $66.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $6.18 billion, a P/E ratio of 46.32, a PEG ratio of 1.68 and a beta of 1.52.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. GXO Logistics had a net margin of 0.98% and a return on equity of 10.91%. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $0.79 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that GXO Logistics will post 3.08 earnings per share for the current year.

Institutional Trading of GXO Logistics

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in GXO Logistics by 17.0% in the third quarter. Marshall Wace LLP now owns 690,902 shares of the company’s stock valued at $30,711,000 after buying an additional 100,461 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in GXO Logistics by 2.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 38,162 shares of the company’s stock worth $1,696,000 after buying an additional 810 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in GXO Logistics by 0.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 96,505 shares of the company’s stock worth $4,290,000 after buying an additional 508 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in GXO Logistics by 203.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 23,193 shares of the company’s stock worth $1,031,000 after buying an additional 15,542 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of GXO Logistics by 1.9% during the 3rd quarter. First Trust Advisors LP now owns 227,798 shares of the company’s stock worth $10,126,000 after acquiring an additional 4,301 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Latest GXO Logistics News

Here’s some of the latest news about GXO:

• Positive Sentiment: Barclays raised its price target to $75 from $65 and maintained an “overweight” rating. The new target implies about 37% upside from the cited $54.65 share price, reflecting a more bullish analyst view. Barclays rating update
• Positive Sentiment: ASOS extended its warehouse and fulfillment agreement with GXO. The renewal supports continuity of business with a major customer and helps underpin GXO’s contract-logistics revenue. ASOS contract extension
• Neutral Sentiment: GXO and Apptronik expanded their partnership to develop Apollo humanoid robots for warehouse use. The companies plan broader operational trials and a framework for commercial deployment through a Robotics-as-a-Service model; reports say GXO could target up to 1,000 robots if trials succeed. The initiative may eventually improve automation, but scale, costs and financial returns are still uncertain. GXO and Apptronik partnership announcement

About GXO Logistics

GXO Logistics is a contract logistics provider that manages supply chain operations for companies across a range of industries. Its services include warehousing, inventory management, order fulfillment, distribution, transportation coordination and product returns. The company uses technology and warehouse automation to support customers’ logistics needs, including e-commerce fulfillment and other complex supply chain operations. GXO serves customers across multiple regions, including North America and Europe.