RXO’s (RXO) “Hold” Rating Reiterated at Benchmark

Benchmark restated their hold rating on shares of RXO (NYSE:RXO) in a research report released on Friday morning, Benzinga reports.

Several other equities analysts also recently weighed in on RXO. Stifel Nicolaus boosted their target price on RXO from $20.00 to $22.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Vertical Research downgraded RXO from a buy rating to a hold rating and set a $23.00 target price on the stock. in a research report on Wednesday, January 10th. Susquehanna boosted their target price on RXO from $15.00 to $16.00 and gave the company a negative rating in a research report on Monday, March 25th. Bank of America downgraded RXO from a buy rating to a neutral rating and cut their target price for the company from $25.00 to $22.00 in a research report on Thursday, February 8th. Finally, Oppenheimer cut their target price on RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $20.23.

RXO Stock Up 0.7 %

Shares of RXO opened at $19.50 on Friday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 487.50, a price-to-earnings-growth ratio of 6.82 and a beta of 1.08. RXO has a 1 year low of $16.94 and a 1 year high of $24.33. The business’s 50 day simple moving average is $20.93 and its 200-day simple moving average is $20.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $978.00 million for the quarter, compared to analysts’ expectations of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities analysts expect that RXO will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at RXO

In other news, major shareholder Mfn Partners, Lp bought 919,720 shares of the stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the acquisition, the insider now owns 14,675,369 shares of the company’s stock, valued at $308,769,763.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 2,578,268 shares of company stock valued at $52,301,046 in the last quarter. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On RXO

Several hedge funds have recently made changes to their positions in the company. Douglas Lane & Associates LLC lifted its holdings in shares of RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after buying an additional 66,757 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of RXO by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after buying an additional 23,497 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after buying an additional 93,885 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of RXO by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock worth $42,415,000 after buying an additional 141,056 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of RXO by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock worth $41,345,000 after buying an additional 138,365 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.