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

RXO (NYSE:RXO) had its price target raised by research analysts at Susquehanna from $18.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “negative” rating on the stock. Susquehanna’s target price would suggest a potential downside of 26.18% from the company’s current price.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company increased their price objective on shares of RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Zacks Research upgraded shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Truist Financial upped their price target on shares of RXO from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price target (up from $19.00) on shares of RXO in a research report on Thursday, May 7th. Finally, BMO Capital Markets started coverage on RXO in a research note on Monday. They set an “outperform” rating and a $35.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and an average price target of $23.14.

RXO Price Performance

Shares of NYSE RXO opened at $27.09 on Tuesday. RXO has a 52 week low of $10.43 and a 52 week high of $29.86. The business’s 50 day moving average price is $25.08 and its 200 day moving average price is $18.67. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market cap of $4.47 billion, a P/E ratio of -44.42 and a beta of 2.03.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted ($0.03) EPS. RXO’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that RXO will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Several institutional investors have recently made changes to their positions in the company. Orbis Allan Gray Ltd lifted its stake in shares of RXO by 6.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares during the period. Franklin Resources Inc. grew its position in RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after buying an additional 1,110,530 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in RXO in the fourth quarter valued at $11,224,000. Wellington Management Group LLP increased its holdings in RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after buying an additional 735,810 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of RXO in the fourth quarter worth about $9,098,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Company Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.