TD Cowen Boosts RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its target price raised by TD Cowen from $19.00 to $20.00 in a research note issued on Friday, Briefing.com reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential downside of 0.60% from the company’s previous close.

A number of other equities analysts also recently weighed in on RXO. Oppenheimer dropped their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Vertical Research downgraded shares of 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. Benchmark reissued a “hold” rating on shares of RXO in a research report on Friday, April 19th. Stifel Nicolaus increased their target price on shares of RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, Bank of America downgraded shares of RXO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, RXO has a consensus rating of “Hold” and an average target price of $20.27.

RXO Stock Performance

RXO opened at $20.12 on Friday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 503.13, a price-to-earnings-growth ratio of 6.69 and a beta of 1.24. 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 has a 1-year low of $16.94 and a 1-year high of $24.33. The business has a 50 day moving average price of $20.64 and a two-hundred day moving average price of $20.88.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Research analysts predict that RXO will post 0.22 EPS for the current fiscal year.

Insider Transactions at RXO

In other news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $21.04 per share, with a total value of $19,350,908.80. Following the completion of the acquisition, the insider now owns 14,675,369 shares in the company, valued at approximately $308,769,763.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders bought 1,942,293 shares of company stock valued at $39,332,736. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently bought and sold shares of RXO. GAMMA Investing LLC bought a new position in shares of RXO during the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in RXO in the 3rd quarter valued at $45,000. TFO Wealth Partners LLC lifted its position in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock valued at $70,000 after acquiring an additional 3,205 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in RXO by 2,008.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after acquiring an additional 4,941 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Company Profile

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.