Brokerages Set Rxo Inc (NYSE:RXO) Target Price at $16.47

Shares of Rxo Inc (NYSE:RXO) have received an average recommendation of “Hold” from the eighteen brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $16.2857.

A number of equities analysts have issued reports on RXO shares. Citigroup increased their price target on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Zacks Research cut RXO from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Barclays increased their target price on RXO from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Monday, February 9th. Finally, Susquehanna boosted their price target on shares of RXO from $10.00 to $11.00 and gave the stock a “negative” rating in a report on Thursday, January 8th.

RXO Trading Down 11.1%

Shares of RXO stock opened at $13.74 on Friday. The firm has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $15.15. The company has a market cap of $2.26 billion, a P/E ratio of -23.69, a price-to-earnings-growth ratio of 9.65 and a beta of 1.67. RXO has a fifty-two week low of $10.43 and a fifty-two week high of $20.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27.

RXO (NYSE:RXO) last posted its earnings results on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.06 earnings per share. RXO’s revenue was down 11.9% on a year-over-year basis. As a group, equities analysts predict that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RXO

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in RXO by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 791,799 shares of the company’s stock worth $12,178,000 after buying an additional 83,305 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of RXO during the third quarter valued at approximately $4,026,000. Frontier Capital Management Co. LLC lifted its position in shares of RXO by 39.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after acquiring an additional 511,036 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of RXO by 67.3% in the second quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock valued at $3,008,000 after acquiring an additional 76,965 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of RXO in the second quarter worth approximately $5,611,000. 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.