GXO Logistics (NYSE:GXO) Sees Strong Trading Volume – What’s Next?

GXO Logistics, Inc. (NYSE:GXO) shares saw an uptick in trading volume on Friday . 432,177 shares were traded during trading, a decline of 50% from the previous session’s volume of 865,618 shares.The stock last traded at $60.60 and had previously closed at $58.07.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GXO. Citigroup began coverage on GXO Logistics in a research report on Wednesday. They set a “buy” rating and a $60.00 price target on the stock. UBS Group dropped their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Susquehanna dropped their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.91.

GXO Logistics Price Performance

The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The company has a 50-day simple moving average of $49.96 and a two-hundred day simple moving average of $50.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. As a group, equities research analysts forecast that GXO Logistics, Inc. will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of GXO Logistics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock worth $603,636,000 after acquiring an additional 82,485 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 acquiring an additional 648,547 shares during the period. Clearbridge Investments LLC boosted its stake in shares of GXO Logistics by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock worth $158,967,000 after acquiring an additional 15,463 shares during the period. Fort Pitt Capital Group LLC boosted its stake in shares of GXO Logistics by 30.4% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock worth $122,039,000 after acquiring an additional 563,057 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock worth $121,140,000 after acquiring an additional 240,766 shares during the period. Institutional investors and hedge funds 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.