Brokerages Set RXO, Inc. (NYSE:RXO) PT at $20.23

RXO, Inc. (NYSE:RXO) has been assigned an average recommendation of “Reduce” from the twelve research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.27.

A number of equities research analysts have issued reports on the company. TD Cowen upped their price objective on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday. Benchmark restated a “hold” rating on shares of RXO in a research report on Friday, April 19th. Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Wednesday, January 10th. Finally, Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $22.00 in a report on Thursday, February 8th.

RXO Price Performance

NYSE:RXO opened at $20.41 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.40 billion, a P/E ratio of -226.78, a P/E/G ratio of 7.08 and a beta of 1.24. RXO has a 12 month low of $16.94 and a 12 month high of $24.33. The business’s 50-day moving average is $20.58 and its 200 day moving average is $20.88.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. On average, equities research analysts forecast that RXO will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other RXO news, major shareholder Mfn Partners, Lp acquired 5,139 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was purchased at an average price of $20.39 per share, for a total transaction of $104,784.21. Following the acquisition, the insider now owns 15,593,694 shares in the company, valued at approximately $317,955,420.66. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 1,942,293 shares of company stock worth $39,332,736. 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 added to or reduced their stakes in the company. Douglas Lane & Associates LLC raised its stake in 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 acquiring an additional 66,757 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 acquiring an additional 23,497 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 93,885 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 141,056 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in 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 acquiring an additional 138,365 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.