Rxo Inc (NYSE:RXO) Stock Has Average Price Target of $23.91

Shares of Rxo Inc (NYSE:RXO) have received a consensus rating of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $23.62.

RXO has been the topic of several recent analyst reports. Citizens Jmp raised shares of RXO from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Friday, August 7th. Stephens raised shares of RXO to a “hold” rating in a research note on Wednesday, July 8th. Susquehanna upgraded shares of RXO from a “negative” rating to a “neutral” rating and cut their price target for the company from $20.00 to $19.00 in a report on Wednesday. UBS Group set a $19.00 price objective on shares of RXO in a research report on Wednesday. Finally, Stifel Nicolaus set a $31.00 price objective on shares of RXO in a research note on Friday, August 7th.

RXO Stock Performance

NYSE RXO opened at $19.93 on Tuesday. The business’s 50 day moving average price is $21.97 and its 200-day moving average price is $21.47. RXO has a fifty-two week low of $10.43 and a fifty-two week high of $29.90. The company has a market cap of $3.29 billion, a P/E ratio of -32.67 and a beta of 2.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.27 and a current ratio of 1.27.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.63 billion. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.RXO’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. Sell-side analysts predict that RXO will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Hedge funds and other institutional investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new stake in shares of RXO during the 1st quarter worth approximately $29,000. City Holding Co. grew its position in RXO by 227.6% in the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock valued at $34,000 after acquiring an additional 865 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in RXO by 18.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after acquiring an additional 649 shares during the last quarter. Nykredit A S purchased a new stake in RXO in the second quarter worth $67,000. Finally, PNC Financial Services Group Inc. increased its stake in RXO by 47.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,287 shares of the company’s stock worth $92,000 after purchasing an additional 2,019 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

About RXO

RXO Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. Its platform connects shippers with third-party carriers, helping businesses arrange the movement of truckload, less-than-truckload, expedited and other freight. The company also provides managed transportation services, including shipment planning, carrier sourcing, tracking and logistics coordination.

RXO primarily serves customers across North America, supporting freight movements in the United States, Canada and Mexico.