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

GXO Logistics, Inc. (NYSE:GXO) saw a large 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. Approximately 3.1% of the shares of the stock are short sold. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On GXO Logistics

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new stake in GXO Logistics in the third quarter valued at about $28,000. UMB Bank n.a. raised its stake in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after buying an additional 331 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares during the period. Hara Capital LLC purchased a new stake in shares of GXO Logistics in the third quarter valued at approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in GXO Logistics by 37.6% during 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 during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

Shares of GXO traded down $0.39 during midday trading on Monday, reaching $43.98. 888,946 shares of the stock were exchanged, compared to its average volume of 1,483,056. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 1.10 and a beta of 1.60. GXO Logistics has a twelve month low of $41.38 and a twelve month high of $63.33. The business’s 50-day moving average price is $50.21 and its 200 day moving average price is $52.07. 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 (NYSE:GXO) last announced its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts expect that GXO Logistics will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GXO. Citigroup initiated coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Oppenheimer raised their price objective on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. TD Cowen upped their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their price target on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Susquehanna cut their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

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.