GXO Logistics (NYSE:GXO) Shares Gap Down After Analyst Downgrade

GXO Logistics, Inc. (NYSE:GXO) gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $60.00 to $52.00. The stock had previously closed at $59.00, but opened at $53.00. Barclays currently has an equal weight rating on the stock. GXO Logistics shares last traded at $51.50, with a volume of 1,044,264 shares traded.

Other research analysts have also recently issued reports about the company. Citigroup initiated coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price for the company. Oppenheimer raised their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock 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 company a “buy” rating in a research note on Wednesday, November 6th. Susquehanna cut their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, UBS Group lifted their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GXO. State Street Corp lifted its position in shares of GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after purchasing an additional 66,232 shares in the last quarter. American Century Companies Inc. lifted its holdings in GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock worth $162,702,000 after buying an additional 648,547 shares in the last quarter. Fort Pitt Capital Group LLC lifted its holdings in GXO Logistics by 2.1% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock worth $128,499,000 after buying an additional 51,208 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in GXO Logistics by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after buying an additional 240,766 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of GXO Logistics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock valued at $103,279,000 after buying an additional 29,992 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 1.78 and a beta of 1.52. The company has a 50 day moving average price of $58.28 and a 200 day moving average price of $53.08.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company earned $0.69 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts forecast that GXO Logistics, Inc. will post 2.76 earnings per share for the current year.

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.