RXO (NYSE:RXO) Stock Price Down 7.6% – Here’s Why

Shares of Rxo Inc (NYSE:RXO) dropped 7.6% during mid-day trading on Thursday . The stock traded as low as $16.75 and last traded at $18.30. Approximately 1,237,393 shares were traded during trading, a decline of 45% from the average daily volume of 2,260,998 shares. The stock had previously closed at $19.81.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RXO shares. Stifel Nicolaus set a $15.00 price objective on RXO in a research report on Thursday, February 5th. Citigroup lifted their target price on RXO from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial lifted their target price on RXO from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company lifted their target price on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $19.54.

RXO Stock Performance

The stock has a 50 day simple moving average of $16.36 and a 200 day simple moving average of $15.08. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -28.98, a PEG ratio of 9.94 and a beta of 1.96. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts predict that Rxo Inc will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new position in shares of RXO in the fourth quarter worth about $25,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of RXO in the first quarter worth about $29,000. Geneos Wealth Management Inc. acquired a new position in shares of RXO in the first quarter worth about $30,000. Quarry LP acquired a new position in shares of RXO in the third quarter worth about $33,000. Finally, Larson Financial Group LLC lifted its stake in shares of RXO by 146.5% in the third quarter. Larson Financial Group LLC now owns 2,766 shares of the company’s stock worth $43,000 after acquiring an additional 1,644 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.