RXO (NYSE:RXO) Stock Price Down 6.1% – Here’s What Happened

Rxo Inc (NYSE:RXO)’s stock price dropped 6.1% on Monday . The stock traded as low as $18.31 and last traded at $18.3930. Approximately 121,921 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,192,707 shares. The stock had previously closed at $19.59.

Wall Street Analyst Weigh In

RXO has been the topic of several recent research reports. UBS Group reiterated a “neutral” rating on shares of RXO in a research note on Sunday, February 8th. Barclays increased their target price on shares of RXO from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Bank of America reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Stifel Nicolaus set a $15.00 target price on shares of RXO in a report on Thursday, February 5th. Finally, Benchmark reissued a “hold” rating on shares of RXO in a report on Monday, February 9th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.00.

RXO Stock Down 9.0%

The company’s fifty day moving average is $15.65 and its 200-day moving average is $14.95. The company has a market capitalization of $2.94 billion, a PE ratio of -30.91, a price-to-earnings-growth ratio of 35.03 and a beta of 1.96. 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 released its earnings results on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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%.The company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, analysts predict that Rxo Inc will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. Royal Bank of Canada boosted its stake in RXO by 14.3% in the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock worth $444,000 after purchasing an additional 2,902 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in RXO by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock worth $1,813,000 after purchasing an additional 4,134 shares during the period. Geneos Wealth Management Inc. bought a new position in RXO in the 1st quarter worth approximately $30,000. Strs Ohio bought a new position in RXO in the 1st quarter worth approximately $97,000. Finally, Quantbot Technologies LP bought a new position in RXO in the 2nd quarter worth approximately $245,000. 92.73% of the stock is currently owned by institutional investors.

RXO Company Profile

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.