Oppenheimer Raises GXO Logistics (NYSE:GXO) Price Target to $67.00

GXO Logistics (NYSE:GXO) had its target price hoisted by stock analysts at Oppenheimer from $63.00 to $67.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 11.02% from the company’s current price.

Several other research analysts have also recently issued reports on GXO. Barclays increased their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Citigroup assumed 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. Susquehanna lowered their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. TD Cowen lifted their price target on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, UBS Group upped their price objective on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two 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 presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

GXO Logistics Stock Performance

Shares of NYSE:GXO opened at $60.35 on Wednesday. The firm’s 50 day simple moving average is $57.62 and its 200-day simple moving average is $52.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics has a one year low of $46.07 and a one year high of $63.33. The firm has a market cap of $7.21 billion, a PE ratio of 67.06, a price-to-earnings-growth ratio of 1.85 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $0.69 EPS. GXO Logistics’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities analysts predict that GXO Logistics will post 2.77 EPS for the current year.

Hedge Funds Weigh In On GXO Logistics

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

GXO Logistics Company Profile

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.