GXO Logistics (NYSE:GXO) Sees Strong Trading Volume

GXO Logistics, Inc. (NYSE:GXO) saw an uptick in trading volume on Monday . 281,677 shares traded hands during mid-day trading, a decline of 67% from the previous session’s volume of 849,377 shares.The stock last traded at $47.66 and had previously closed at $47.94.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Loop Capital reduced their price target on GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. Morgan Stanley restated an “overweight” rating and set a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 target price on shares of GXO Logistics in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.85.

GXO Logistics Trading Down 1.6 %

The stock has a market cap of $5.63 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 1.44 and a beta of 1.61. The firm has a 50-day moving average price of $50.58 and a 200-day moving average price of $53.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94.

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

Insider Buying and Selling

In other GXO Logistics news, CEO Malcolm Wilson purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the purchase, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Trading of GXO Logistics

Institutional investors have recently made changes to their positions in the stock. Swedbank AB purchased a new position in shares of GXO Logistics during the first quarter valued at approximately $84,672,000. Norges Bank purchased a new stake in GXO Logistics during the 4th quarter valued at $65,002,000. Fort Pitt Capital Group LLC lifted its holdings in shares of GXO Logistics by 60.4% during the 1st 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. Handelsbanken Fonder AB boosted its stake in shares of GXO Logistics by 3,033.0% in the 4th quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock worth $34,873,000 after buying an additional 552,000 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its stake in shares of GXO Logistics by 307.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock worth $34,865,000 after buying an additional 489,369 shares during the last quarter. 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.