GXO Logistics, Inc. (NYSE:GXO) Sees Large Growth in Short Interest

GXO Logistics, Inc. (NYSE:GXO) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 3,640,000 shares, an increase of 12.3% from the December 15th total of 3,240,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 3.1% of the company’s shares are sold short.

Hedge Funds Weigh In On GXO Logistics

Several institutional investors have recently modified their holdings of GXO. Stifel Financial Corp grew its position in shares of GXO Logistics by 95.8% during the third quarter. Stifel Financial Corp now owns 76,045 shares of the company’s stock worth $3,960,000 after buying an additional 37,197 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in GXO Logistics by 6.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company’s stock worth $20,904,000 after acquiring an additional 31,015 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of GXO Logistics by 2.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock valued at $26,153,000 after purchasing an additional 12,208 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of GXO Logistics in the 3rd quarter valued at approximately $667,000. Finally, Barclays PLC raised its holdings in shares of GXO Logistics by 28.9% in the 3rd quarter. Barclays PLC now owns 62,545 shares of the company’s stock valued at $3,256,000 after purchasing an additional 14,020 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group lifted their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Cowen boosted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays cut their price target on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Finally, Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.38.

GXO Logistics Trading Down 0.9 %

GXO Logistics stock traded down $0.39 during midday trading on Friday, reaching $43.98. 888,946 shares of the stock traded hands, compared to its average volume of 1,483,056. The firm has a market cap of $5.25 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.60. 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 50-day simple moving average of $50.21 and a two-hundred day simple moving average of $52.03. GXO Logistics has a 12-month low of $41.38 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Research analysts expect that GXO Logistics will post 2.74 earnings per share for the current fiscal year.

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.