RXO (NYSE:RXO) Stock Price Up 7.9% – Here’s What Happened

Rxo Inc (NYSE:RXO)’s share price traded up 7.9% on Tuesday . The stock traded as high as $12.92 and last traded at $12.9050. 886,378 shares were traded during trading, a decline of 64% from the average session volume of 2,463,831 shares. The stock had previously closed at $11.96.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RXO. Zacks Research cut shares of RXO from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Stifel Nicolaus set a $15.00 price target on RXO in a research report on Thursday, February 5th. Stephens set a $15.00 price objective on shares of RXO in a research report on Monday, February 9th. Barclays increased their price target on shares of RXO from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Finally, TD Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.29.

RXO Stock Down 3.5%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $2.12 billion, a PE ratio of -22.33, a price-to-earnings-growth ratio of 9.13 and a beta of 1.67. The company’s 50-day moving average price is $14.90 and its 200 day moving average price is $14.97.

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). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.50 billion. RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.RXO’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, analysts forecast that Rxo Inc will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several large investors have recently added to or reduced their stakes in the stock. Finepoint Capital LP purchased a new position in shares of RXO during the third quarter worth approximately $111,764,000. Orbis Allan Gray Ltd increased its position in RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares during the period. Franklin Resources Inc. boosted its position in RXO by 91.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock valued at $35,818,000 after acquiring an additional 1,110,530 shares in the last quarter. Norges Bank purchased a new position in shares of RXO in the 2nd quarter valued at $16,949,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of RXO in the 4th quarter worth $11,224,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.