Oppenheimer Lowers GXO Logistics (NYSE:GXO) Price Target to $55.00

GXO Logistics (NYSE:GXO) had its target price dropped by investment analysts at Oppenheimer from $67.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 33.93% from the stock’s current price.

Several other brokerages also recently weighed in on GXO. TD Cowen upped their price objective on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Loop Capital lowered shares of GXO Logistics from a “buy” rating to a “hold” rating and decreased their price target for the company from $71.00 to $49.00 in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company decreased their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, UBS Group dropped their price target on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research note on Friday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $57.62.

GXO Logistics Price Performance

GXO stock traded up $1.66 during midday trading on Tuesday, reaching $41.07. The company had a trading volume of 2,397,462 shares, compared to its average volume of 1,528,728. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. 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 has a 1-year low of $34.51 and a 1-year high of $63.33. The stock has a 50 day moving average price of $44.20 and a 200-day moving average price of $50.69.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. Equities research analysts expect that GXO Logistics will post 2.73 earnings per share for the current year.

Institutional Investors Weigh In On GXO Logistics

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics in the third quarter worth approximately $28,000. Murphy & Mullick Capital Management Corp bought a new position in GXO Logistics during the 4th quarter worth approximately $41,000. Summit Securities Group LLC lifted its position in shares of GXO Logistics by 870.9% in the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock worth $44,000 after purchasing an additional 897 shares during the period. Signaturefd LLC boosted its stake 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 purchasing an additional 249 shares during the last quarter. Finally, Hara Capital LLC acquired a new stake in GXO Logistics during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

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.