GXO Logistics, Inc. (NYSE:GXO) Short Interest Update

GXO Logistics, Inc. (NYSE:GXO) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,980,000 shares, a growth of 24.7% from the March 31st total of 2,390,000 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 903,400 shares, the days-to-cover ratio is currently 3.3 days.

GXO Logistics Trading Down 2.6 %

Shares of GXO stock traded down $1.30 on Tuesday, reaching $49.66. 736,178 shares of the company’s stock were exchanged, compared to its average volume of 869,140. The company’s fifty day simple moving average is $50.80 and its 200 day simple moving average is $54.45. GXO Logistics has a 52 week low of $48.11 and a 52 week high of $67.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $5.93 billion, a PE ratio of 26.00, a P/E/G ratio of 2.12 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts forecast that GXO Logistics will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GXO. TD Cowen raised their price target on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Citigroup dropped their target price on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Stifel Nicolaus increased their price target on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.69.

Insider Buying and Selling at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of GXO Logistics

Several institutional investors and hedge funds have recently modified their holdings of GXO. Norges Bank purchased a new position in GXO Logistics during the 4th quarter worth $65,002,000. Fort Pitt Capital Group LLC grew its position in shares of GXO Logistics by 60.4% during the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after buying an additional 698,180 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of GXO Logistics by 3,033.0% during the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock valued at $34,873,000 after buying an additional 552,000 shares during the period. Payden & Rygel Investment Group bought a new stake in shares of GXO Logistics in the third quarter valued at about $18,272,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in GXO Logistics by 127.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 554,731 shares of the company’s stock worth $29,822,000 after acquiring an additional 311,168 shares during the period. Institutional investors own 90.67% 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, 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.