Barclays Raises RXO (NYSE:RXO) Price Target to $17.00

RXO (NYSE:RXO) had its price objective increased by stock analysts at Barclays from $15.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 3.09% from the stock’s current price.

RXO has been the subject of a number of other research reports. Wall Street Zen lowered RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Zacks Research cut RXO from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Stifel Nicolaus set a $15.00 price objective on shares of RXO in a report on Thursday, February 5th. Wolfe Research upgraded shares of RXO from an “underperform” rating to a “peer perform” rating in a research report on Friday, November 14th. Finally, Stephens set a $15.00 target price on shares of RXO in a report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.47.

RXO Price Performance

NYSE:RXO traded up $0.05 during trading hours on Wednesday, hitting $16.49. 324,790 shares of the stock traded hands, compared to its average volume of 2,559,608. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -28.43, a price-to-earnings-growth ratio of 11.43 and a beta of 1.67. RXO has a 1 year low of $10.43 and a 1 year high of $20.58. The stock has a 50 day moving average price of $14.78 and a 200 day moving average price of $15.14. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25.

RXO (NYSE:RXO) last announced its quarterly earnings data on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.50 billion. RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. Sell-side analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

Hedge funds have recently modified their holdings of the company. Finepoint Capital LP bought a new position in shares of RXO during the 3rd quarter valued at approximately $111,764,000. Orbis Allan Gray Ltd raised its stake in RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares in the last quarter. Franklin Resources Inc. lifted its position in RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after purchasing an additional 1,110,530 shares during the last quarter. Norges Bank bought a new position in RXO during the second quarter valued at $16,949,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of RXO in the 4th quarter worth $11,224,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.