RXO (NYSE:RXO) Shares Gap Down – What’s Next?

Shares of Rxo Inc (NYSE:RXO) gapped down prior to trading on Friday . The stock had previously closed at $27.77, but opened at $26.44. RXO shares last traded at $25.5650, with a volume of 190,464 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RXO shares. UBS Group raised their price target on shares of RXO from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Citigroup started coverage on shares of RXO in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Susquehanna raised their target price on RXO from $18.00 to $20.00 and gave the company a “negative” rating in a report on Tuesday, July 14th. Truist Financial boosted their price target on RXO from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group upped their price target on RXO from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.57.

RXO Trading Down 8.2%

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 company has a 50-day moving average price of $26.42 and a 200-day moving average price of $19.56. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -41.65 and a beta of 2.03.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts predict that Rxo Inc will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RXO. Oregon Public Employees Retirement Fund grew its holdings in shares of RXO by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,543 shares of the company’s stock worth $475,000 after purchasing an additional 600 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of RXO by 18.3% in the first quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after buying an additional 649 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of RXO by 1.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 49,406 shares of the company’s stock valued at $624,000 after buying an additional 724 shares during the last quarter. City Holding Co. raised its holdings in shares of RXO by 227.6% in the second quarter. City Holding Co. now owns 1,245 shares of the company’s stock valued at $34,000 after buying an additional 865 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in RXO by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 31,634 shares of the company’s stock worth $400,000 after buying an additional 972 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.