GXO Logistics (NYSE:GXO) Hits New 52-Week Low Following Analyst Downgrade

GXO Logistics, Inc. (NYSE:GXO) shares hit a new 52-week low during trading on Thursday after Loop Capital lowered their price target on the stock from $76.00 to $74.00. Loop Capital currently has a buy rating on the stock. GXO Logistics traded as low as $48.11 and last traded at $48.16, with a volume of 689479 shares trading hands. The stock had previously closed at $48.85.

A number of other research analysts have also recently issued reports on the company. Susquehanna lifted their target price on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Citigroup dropped their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Stifel Nicolaus boosted their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. TD Cowen increased their price target on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.54.

Insider Buying and Selling

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in GXO Logistics during the fourth quarter worth $65,002,000. Morgan Stanley grew its holdings in GXO Logistics by 58.9% during the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock worth $117,261,000 after acquiring an additional 1,017,980 shares during the period. Mar Vista Investment Partners LLC acquired a new stake in GXO Logistics during the 1st quarter worth about $71,087,000. Vanguard Group Inc. raised its position in shares of GXO Logistics by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock worth $378,512,000 after acquiring an additional 870,382 shares in the last quarter. Finally, Fort Pitt Capital Group LLC lifted its stake in shares of GXO Logistics by 60.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after purchasing an additional 698,180 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Trading Down 1.4 %

The company has a market cap of $5.75 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.64. The firm has a 50-day moving average of $51.84 and a 200 day moving average of $54.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. GXO Logistics’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, analysts predict that GXO Logistics, Inc. will post 2.77 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.