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

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

GXO Logistics Trading Down 1.1 %

Shares of GXO traded down $0.45 on Tuesday, hitting $40.76. 1,233,609 shares of the stock traded hands, compared to its average volume of 1,144,184. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $4.87 billion, a P/E ratio of 36.39, a P/E/G ratio of 1.34 and a beta of 1.62. The stock’s 50 day moving average is $41.91 and its two-hundred day moving average is $49.31. GXO Logistics has a 1 year low of $34.51 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 predict that GXO Logistics will post 2.49 earnings per share for the current year.

Hedge Funds Weigh In On GXO Logistics

Several institutional investors and hedge funds have recently modified their holdings of GXO. KBC Group NV lifted its stake in shares of GXO Logistics by 18.6% during the third quarter. KBC Group NV now owns 3,665 shares of the company’s stock valued at $191,000 after buying an additional 576 shares during the period. Natixis Advisors LLC raised its stake in GXO Logistics by 15.0% during the third quarter. Natixis Advisors LLC now owns 17,591 shares of the company’s stock worth $916,000 after purchasing an additional 2,288 shares during the period. Mount Lucas Management LP raised its stake in GXO Logistics by 2.4% during the third quarter. Mount Lucas Management LP now owns 7,327 shares of the company’s stock worth $382,000 after purchasing an additional 173 shares during the period. Global Alpha Capital Management Ltd. purchased a new position in GXO Logistics during the third quarter worth approximately $32,434,000. Finally, Primecap Management Co. CA raised its stake in GXO Logistics by 0.9% during the third quarter. Primecap Management Co. CA now owns 229,500 shares of the company’s stock worth $11,950,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a “hold” rating and a $45.00 target price on the stock. Oppenheimer lowered their target price on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered 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 report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.60.

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, 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.