RXO (NYSE:RXO) Raised to Outperform at Citizens Jmp

RXO (NYSE:RXO) was upgraded by Citizens Jmp from a “market perform” rating to an “outperform” rating in a report released on Friday. The brokerage currently has a $30.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 48.54% from the company’s current price.

A number of other research firms have also recently commented on RXO. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, July 28th. Stephens raised RXO to a “hold” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded RXO from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen reiterated a “sell” rating and issued a $17.50 price objective (down from $19.00) on shares of RXO in a research note on Friday. Finally, UBS Group increased their price objective on RXO from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

RXO Stock Down 3.8%

RXO stock opened at $20.20 on Friday. The stock has a market cap of $3.33 billion, a P/E ratio of -33.11 and a beta of 2.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. RXO has a twelve month low of $10.43 and a twelve month high of $29.90. The company’s 50 day moving average is $26.17 and its two-hundred day moving average is $20.08.

RXO (NYSE:RXO) last issued its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.63 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. Research analysts expect that RXO will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. 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 buying an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of RXO by 18.3% during 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 period. Oppenheimer & Co. Inc. boosted its position in RXO by 1.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 49,406 shares of the company’s stock worth $624,000 after acquiring an additional 724 shares during the last quarter. City Holding Co. grew its stake in RXO by 227.6% in the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after acquiring an additional 865 shares during the period. Finally, ProShare Advisors LLC grew its stake in RXO by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 31,634 shares of the company’s stock worth $400,000 after acquiring an additional 972 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

About RXO

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.