RXO (NYSE:RXO) Sees Strong Trading Volume – Time to Buy?

Rxo Inc (NYSE:RXO) shares saw unusually-strong trading volume on Thursday . Approximately 5,421,311 shares were traded during mid-day trading, an increase of 141% from the previous session’s volume of 2,252,557 shares.The stock last traded at $12.3680 and had previously closed at $16.33.

Analysts Set New Price Targets

RXO has been the topic of several recent research reports. Zacks Research cut shares of RXO from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Morgan Stanley upgraded shares of RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Tuesday, November 11th. Wall Street Zen cut shares of RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Truist Financial raised their price target on shares of RXO from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays decreased their price objective on RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.33.

RXO Trading Down 20.5%

The business’s 50-day simple moving average is $14.58 and its two-hundred day simple moving average is $15.16. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -22.40, a PEG ratio of 12.64 and a beta of 1.74. The company has a quick ratio of 1.32, a current ratio of 1.27 and a debt-to-equity ratio of 0.25.

RXO (NYSE:RXO) last issued its quarterly earnings data on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. Equities analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

Insider Activity at RXO

In other news, Director Troy A. Cooper acquired 8,317 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $10.61 per share, with a total value of $88,243.37. Following the completion of the purchase, the director owned 275,416 shares of the company’s stock, valued at $2,922,163.76. This represents a 3.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of RXO

Large investors have recently modified their holdings of the stock. Finepoint Capital LP purchased a new position in RXO in the third quarter valued at $111,764,000. Orbis Allan Gray Ltd raised its position in RXO by 3.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company’s stock valued at $493,218,000 after purchasing an additional 1,142,710 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of RXO by 91.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after buying an additional 1,110,530 shares during the period. Norges Bank acquired a new position in shares of RXO during the second quarter worth about $16,949,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of RXO during the fourth quarter worth about $11,224,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.