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GXO Logistics (GXO) Surges 5.3%: Is This an Indication of Further Gains?
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GXO Logistics (GXO - Free Report) shares rallied 5.3% in the last trading session to close at $52.29. This move can be attributed to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% loss over the past four weeks.
The uptick followed a move by the firm, Citizens, to initiate coverage on GXO Logistics with an Outperform rating and a price target of $80. Apart from the bullish analyst coverage, the stock is benefiting from a robust contract pipeline and highly impressive revenue growth.
This contract logistics provider is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +1.8%. Revenues are expected to be $3.45 billion, up 4.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For GXO Logistics, the consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GXO going forward to see if this recent jump can turn into more strength down the road.
GXO Logistics belongs to the Zacks Transportation - Air Freight and Cargo industry. Another stock from the same industry, United Parcel Service (UPS - Free Report) , closed the last trading session 0.6% lower at $112.94. Over the past month, UPS has returned 3.3%.
UPS' consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $1.65. Compared to the company's year-ago EPS, this represents a change of +6.5%. UPS currently boasts a Zacks Rank of #3 (Hold).
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GXO Logistics (GXO) Surges 5.3%: Is This an Indication of Further Gains?
GXO Logistics (GXO - Free Report) shares rallied 5.3% in the last trading session to close at $52.29. This move can be attributed to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% loss over the past four weeks.
The uptick followed a move by the firm, Citizens, to initiate coverage on GXO Logistics with an Outperform rating and a price target of $80. Apart from the bullish analyst coverage, the stock is benefiting from a robust contract pipeline and highly impressive revenue growth.
This contract logistics provider is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +1.8%. Revenues are expected to be $3.45 billion, up 4.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For GXO Logistics, the consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GXO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GXO Logistics belongs to the Zacks Transportation - Air Freight and Cargo industry. Another stock from the same industry, United Parcel Service (UPS - Free Report) , closed the last trading session 0.6% lower at $112.94. Over the past month, UPS has returned 3.3%.
UPS' consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $1.65. Compared to the company's year-ago EPS, this represents a change of +6.5%. UPS currently boasts a Zacks Rank of #3 (Hold).