GXO Logistics (NYSE:GXO) Price Target Lowered to $57.00 at Morgan Stanley

GXO Logistics (NYSE:GXO) had its target price decreased by equities researchers at Morgan Stanley from $63.00 to $57.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 53.80% from the stock’s current price.

A number of other research firms have also recently weighed in on GXO. TD Cowen upped their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Loop Capital cut GXO Logistics from a “buy” rating to a “hold” rating and dropped their price target for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their price target on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Oppenheimer raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Barclays cut their target price on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and an average target price of $61.92.

GXO Logistics Price Performance

Shares of GXO opened at $37.06 on Friday. GXO Logistics has a twelve month low of $34.51 and a twelve month high of $63.33. The stock’s 50 day moving average is $44.61 and its two-hundred day moving average is $50.97. The firm has a market capitalization of $4.43 billion, a PE ratio of 41.18, a P/E/G ratio of 1.19 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.

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

Hedge Funds Weigh In On GXO Logistics

Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of GXO Logistics in the third quarter valued at approximately $28,000. Murphy & Mullick Capital Management Corp purchased a new stake in GXO Logistics in the 4th quarter valued at about $41,000. Summit Securities Group LLC grew its holdings in GXO Logistics by 870.9% in the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after buying an additional 897 shares during the period. Signaturefd LLC increased its stake in shares of GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares during the last quarter. Finally, Hara Capital LLC purchased a new position in shares of GXO Logistics during the 3rd quarter worth about $50,000. 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.