RXO (NYSE:RXO) Price Target Raised to $16.00

RXO (NYSE:RXO) had its price target lifted by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Barclays cut their target price on RXO from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. UBS Group raised their target price on RXO from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Cowen restated a “hold” rating on shares of RXO in a research report on Friday, August 8th. Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a report on Wednesday. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.23.

RXO Price Performance

RXO stock opened at $16.61 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $2.72 billion, a PE ratio of -7.69, a price-to-earnings-growth ratio of 8.85 and a beta of 1.65. RXO has a one year low of $12.19 and a one year high of $31.98. The business has a 50 day simple moving average of $16.03 and a 200 day simple moving average of $15.78.

RXO (NYSE:RXO) last posted its earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.RXO’s revenue was up 52.6% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. On average, sell-side analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds and other institutional investors have recently made changes to their positions in RXO. AlphaQuest LLC acquired a new stake in shares of RXO in the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. acquired a new stake in shares of RXO in the 1st quarter valued at $30,000. Larson Financial Group LLC increased its stake in shares of RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock valued at $33,000 after buying an additional 1,632 shares during the period. CWM LLC increased its stake in shares of RXO by 234.4% in the 1st quarter. CWM LLC now owns 1,876 shares of the company’s stock valued at $36,000 after buying an additional 1,315 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of RXO by 25.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock valued at $54,000 after buying an additional 688 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

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.