RXO (NYSE:RXO) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of RXO (NYSE:RXO) from an underweight rating to a neutral rating in a report issued on Tuesday,Benzinga reports. They currently have $30.00 price target on the stock, up from their previous price target of $22.00.

A number of other analysts have also recently commented on RXO. Stephens upgraded shares of RXO to a “hold” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a report on Tuesday, September 1st. Susquehanna raised shares of RXO from a “negative” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $19.00 in a report on Wednesday, September 23rd. Citizens Jmp upgraded RXO from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Friday, August 7th. Finally, Barclays raised their price target on RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.08.

RXO Stock Performance

Shares of RXO opened at $28.91 on Tuesday. The firm has a market cap of $4.77 billion, a PE ratio of -47.40 and a beta of 2.10. The stock’s fifty day moving average price is $21.58 and its two-hundred day moving average price is $22.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.27 and a quick ratio of 1.27. RXO has a 1 year low of $10.43 and a 1 year high of $29.90.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. City Holding Co. raised its holdings in shares of 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 in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of RXO during the first quarter worth about $29,000. Nykredit A S bought a new position in shares of RXO in the second quarter worth approximately $67,000. Public Employees Retirement System of Ohio increased its position 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 worth $61,000 after purchasing an additional 649 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in RXO in the second quarter valued at approximately $133,000. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.