RXO (NYSE:RXO) Trading 5.2% Higher – What’s Next?

Rxo Inc (NYSE:RXO)’s share price was up 5.2% during trading on Tuesday . The stock traded as high as $13.90 and last traded at $14.2080. Approximately 119,164 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,689,527 shares. The stock had previously closed at $13.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RXO shares. TD Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, January 9th. UBS Group reissued a “neutral” rating on shares of RXO in a research note on Sunday, February 8th. Stephens set a $15.00 price objective on RXO in a report on Monday, February 9th. Truist Financial increased their price target on RXO from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Wall Street Zen cut shares of RXO from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, RXO currently has an average rating of “Hold” and a consensus price target of $16.33.

RXO Stock Up 9.9%

The firm’s 50 day simple moving average is $14.53 and its 200-day simple moving average is $15.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -25.60, a price-to-earnings-growth ratio of 7.26 and a beta of 1.74.

RXO (NYSE:RXO) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.50 billion. RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Equities analysts expect that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other RXO news, Director Troy A. Cooper bought 8,317 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $10.61 per share, with a total value of $88,243.37. Following the acquisition, the director owned 275,416 shares of the company’s stock, valued at $2,922,163.76. The trade was a 3.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Trading of RXO

Several hedge funds and other institutional investors have recently modified their holdings of RXO. Principal Financial Group Inc. increased its position in RXO by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 791,799 shares of the company’s stock worth $12,178,000 after buying an additional 83,305 shares during the period. Frontier Capital Management Co. LLC raised its position in RXO by 39.6% during the second quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after purchasing an additional 511,036 shares in the last quarter. Cornerstone Wealth Group LLC bought a new stake in shares of RXO during the 3rd quarter worth $4,026,000. Russell Investments Group Ltd. boosted its stake in shares of RXO by 67.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock valued at $3,008,000 after purchasing an additional 76,965 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of RXO during the second quarter worth $5,611,000. Institutional investors 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.