Short Interest in GXO Logistics, Inc. (NYSE:GXO) Drops By 9.7%
GXO Logistics, Inc. (NYSE:GXO – Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,500,000 shares, a decrease of 9.7% from the October 31st total of 2,770,000 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 627,600 shares, the days-to-cover ratio is presently 4.0 days.
GXO Logistics Stock Performance
Shares of GXO traded up $0.74 during mid-day trading on Monday, hitting $58.89. 562,684 shares of the company’s stock were exchanged, compared to its average volume of 748,706. GXO Logistics has a fifty-two week low of $40.94 and a fifty-two week high of $67.57. The firm has a market capitalization of $7.01 billion, a P/E ratio of 34.85, a P/E/G ratio of 2.58 and a beta of 1.71. The business’s 50 day moving average is $54.76 and its two-hundred day moving average is $59.36. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58.
GXO Logistics (NYSE:GXO – Get Free Report) last announced its earnings results on Tuesday, November 7th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. GXO Logistics had a net margin of 2.09% and a return on equity of 11.76%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that GXO Logistics will post 2.59 earnings per share for the current year.
Institutional Investors Weigh In On GXO Logistics
Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its position in GXO Logistics by 217.2% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 291 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in GXO Logistics in the third quarter valued at about $31,000. Geneos Wealth Management Inc. acquired a new stake in GXO Logistics in the first quarter valued at about $39,000. Financial Management Professionals Inc. acquired a new stake in GXO Logistics in the second quarter valued at about $42,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in GXO Logistics in the second quarter valued at about $48,000. Institutional investors and hedge funds own 90.67% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on GXO shares. Wells Fargo & Company dropped their target price on GXO Logistics from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, November 9th. Susquehanna dropped their target price on GXO Logistics from $74.00 to $66.00 and set a “positive” rating on the stock in a report on Thursday, November 9th. Citigroup increased their target price on GXO Logistics from $66.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 31st. UBS Group dropped their target price on GXO Logistics from $74.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $81.00 target price on shares of GXO Logistics in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.47.
View Our Latest Stock Analysis on GXO
GXO Logistics Company Profile (Get Free Report)
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, 2022, it operated in approximately 979 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.
Further Reading
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Original: MarketBeat News Feed: Short Interest in GXO Logistics, Inc. (NYSE:GXO) Drops By 9.7%