RXO, Inc. (NYSE:RXO) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of RXO, Inc. (NYSE:RXO) have been given an average rating of “Reduce” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $19.90.

RXO has been the subject of a number of research analyst reports. Stephens reiterated an “equal weight” rating and issued a $22.00 price target on shares of RXO in a report on Monday, May 6th. Raymond James assumed coverage on shares of RXO in a research report on Wednesday, May 15th. They set a “market perform” rating for the company. Susquehanna upped their price target on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. TD Cowen lifted their price objective on RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Benchmark reissued a “hold” rating on shares of RXO in a report on Friday, April 19th.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp acquired 35,985 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average price of $20.22 per share, with a total value of $727,616.70. Following the completion of the transaction, the insider now directly owns 15,629,679 shares in the company, valued at approximately $316,032,109.38. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 1,128,060 shares of company stock valued at $22,099,090 in the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund grew its holdings in RXO by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock valued at $1,513,000 after buying an additional 543 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after purchasing an additional 820 shares during the last quarter. Rhumbline Advisers raised its stake in RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after purchasing an additional 905 shares during the period. Hohimer Wealth Management LLC raised its stake in RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after purchasing an additional 1,109 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of RXO in the 4th quarter valued at $27,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Price Performance

Shares of NYSE:RXO opened at $20.32 on Friday. RXO has a 52 week low of $16.94 and a 52 week high of $24.33. The company has a 50-day moving average price of $20.51 and a 200 day moving average price of $21.13. The company has a market cap of $2.39 billion, a P/E ratio of -225.78, a PEG ratio of 6.97 and a beta of 1.24. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. Research analysts predict that RXO will post 0.19 earnings per share for the current year.

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.