RXO (NYSE:RXO) Price Target Raised to $20.00

RXO (NYSE:RXO) had its target price hoisted by TD Cowen from $19.00 to $20.00 in a research report released on Friday morning, Marketbeat Ratings reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer reduced their price target on shares of RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, February 13th. Bank of America cut RXO from a buy rating to a neutral rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Stifel Nicolaus upped their price target on RXO from $20.00 to $22.00 and gave the stock a hold rating in a research note on Wednesday, January 10th. Vertical Research lowered RXO from a buy rating to a hold rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 10th. Finally, Benchmark reiterated a hold rating on shares of RXO in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, RXO currently has a consensus rating of Hold and a consensus price target of $20.55.

RXO Trading Up 0.6 %

RXO traded up $0.13 on Friday, hitting $20.54. 508,894 shares of the company were exchanged, compared to its average volume of 658,067. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. The firm has a fifty day simple moving average of $20.58 and a two-hundred day simple moving average of $20.91. The stock has a market capitalization of $2.41 billion, a PE ratio of -228.44, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. RXO has a 12 month low of $16.94 and a 12 month high of $24.33.

RXO (NYSE:RXO) last issued its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. Sell-side analysts expect that RXO will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other RXO news, major shareholder Mfn Partners, Lp purchased 5,139 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were acquired at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the transaction, the insider now owns 15,593,694 shares of the company’s stock, valued at $317,955,420.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought 1,942,293 shares of company stock valued at $39,332,736 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently modified their holdings of RXO. GAMMA Investing LLC bought a new position in shares of RXO during the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of RXO by 6,329.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after buying an additional 1,962 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in RXO during the third quarter valued at approximately $45,000. TFO Wealth Partners LLC increased its stake in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after acquiring an additional 3,205 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of RXO by 62.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after acquiring an additional 1,987 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.