GXO Logistics (NYSE:GXO - Get Rating) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Monday, The Fly reports.
Several other research analysts have also weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of GXO Logistics from $70.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 21st. Susquehanna dropped their price objective on shares of GXO Logistics from $55.00 to $54.00 in a research note on Thursday, November 10th. Credit Suisse Group dropped their price objective on shares of GXO Logistics from $56.00 to $48.00 in a research note on Tuesday, October 11th. Cowen dropped their price objective on shares of GXO Logistics from $67.00 to $62.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 27th. Finally, BNP Paribas initiated coverage on shares of GXO Logistics in a research report on Thursday, December 1st. They issued a "neutral" rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $58.53.
GXO Logistics Stock Up 3.9 %
GXO stock opened at $46.23 on Monday. GXO Logistics has a 52-week low of $32.10 and a 52-week high of $91.89. The company's 50 day simple moving average is $42.44 and its 200-day simple moving average is $42.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $5.48 billion, a P/E ratio of 26.12, a P/E/G ratio of 1.56 and a beta of 1.54.
GXO Logistics (NYSE:GXO - Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. GXO Logistics had a net margin of 2.36% and a return on equity of 12.90%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. As a group, equities research analysts anticipate that GXO Logistics will post 2.75 EPS for the current year.
Insider Buying and Selling at GXO Logistics
In other GXO Logistics news, CEO Malcolm Wilson acquired 4,174 shares of the company's stock in a transaction dated Friday, November 25th. The stock was bought at an average price of $43.97 per share, for a total transaction of $183,530.78. Following the purchase, the chief executive officer now owns 45,509 shares in the company, valued at approximately $2,001,030.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company's stock.
Hedge Funds Weigh In On GXO Logistics
A number of hedge funds have recently made changes to their positions in GXO. Pendal Group Ltd raised its stake in shares of GXO Logistics by 87.9% in the 3rd quarter. Pendal Group Ltd now owns 6,105,398 shares of the company's stock valued at $214,055,000 after buying an additional 2,856,645 shares in the last quarter. Mar Vista Investment Partners LLC acquired a new stake in shares of GXO Logistics during the 1st quarter worth about $71,087,000. Vanguard Group Inc. increased its position in shares of GXO Logistics by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company's stock worth $378,512,000 after purchasing an additional 870,382 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of GXO Logistics by 6,630.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 415,021 shares of the company's stock worth $14,551,000 after purchasing an additional 408,855 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of GXO Logistics by 8.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,912,126 shares of the company's stock worth $172,219,000 after purchasing an additional 374,743 shares in the last quarter. Institutional investors and hedge funds own 99.47% 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, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
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