RXO (NYSE:RXO) Hits New 52-Week High – What’s Next?

Rxo Inc (NYSE:RXO)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $23.69 and last traded at $23.5460, with a volume of 1257942 shares changing hands. The stock had previously closed at $21.13.

Analysts Set New Price Targets

Several research analysts have recently commented on RXO shares. Bank of America cut their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Wells Fargo & Company lifted their target price on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Susquehanna increased their price target on shares of RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Truist Financial lifted their price objective on shares of RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.08.

RXO Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $15.22. The firm has a market cap of $4.04 billion, a PE ratio of -40.24, a price-to-earnings-growth ratio of 25.32 and a beta of 1.96.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in RXO during the 4th quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in RXO in the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. purchased a new stake in shares of RXO during the first quarter valued at approximately $30,000. Quarry LP purchased a new stake in shares of RXO during the third quarter valued at approximately $33,000. Finally, Larson Financial Group LLC grew its holdings 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 purchasing an additional 1,644 shares during the last quarter. 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.