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

GXO Logistics, Inc. (NYSE:GXO) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 7,150,000 shares, an increase of 20.2% from the February 13th total of 5,950,000 shares. Currently, 6.1% of the shares of the stock are short sold. Based on an average daily volume of 1,710,000 shares, the short-interest ratio is presently 4.2 days.

Institutional Investors Weigh In On GXO Logistics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of GXO Logistics in the fourth quarter worth approximately $41,000. Summit Securities Group LLC lifted its position in shares of GXO Logistics by 870.9% during 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 290 shares during the period. Quarry LP increased its stake in GXO Logistics by 1,334.9% in the 4th quarter. Quarry LP now owns 1,234 shares of the company’s stock worth $54,000 after buying an additional 1,148 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of GXO Logistics during the fourth quarter valued at approximately $54,000. Institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GXO. The Goldman Sachs Group lowered their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Oppenheimer cut their price target on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Barclays reduced their price objective 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, February 13th. UBS Group dropped their target price on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Six 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $55.60.

GXO Logistics Trading Up 0.7 %

GXO stock traded up $0.31 during trading on Thursday, reaching $41.15. The company had a trading volume of 345,412 shares, compared to its average volume of 1,625,699. GXO Logistics has a 52 week low of $34.51 and a 52 week high of $63.33. The business has a 50 day moving average of $41.84 and a 200 day moving average of $49.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The company has a market cap of $4.92 billion, a P/E ratio of 36.72, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. As a group, sell-side analysts forecast that GXO Logistics will post 2.49 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.