Stifel Nicolaus Boosts RXO (NYSE:RXO) Price Target to $30.00

RXO (NYSE:RXO) had its price target lifted by stock analysts at Stifel Nicolaus from $22.00 to $30.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 14.33% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays lifted their target price on RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. TD Cowen raised their price target on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. 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 research note on Friday, May 8th. Stephens raised shares of RXO to a “hold” rating in a report on Wednesday, July 8th. Finally, UBS Group raised their target price on shares of RXO from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, RXO currently has an average rating of “Hold” and an average price target of $22.08.

RXO Stock Down 0.0%

Shares of RXO opened at $26.24 on Monday. RXO has a 52 week low of $10.43 and a 52 week high of $29.86. The firm has a market cap of $4.33 billion, a P/E ratio of -43.02 and a beta of 2.03. The firm’s 50-day simple moving average is $24.93 and its 200 day simple moving average is $18.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $1.43 billion during 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 business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that RXO will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Orbis Allan Gray Ltd increased its stake in RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after acquiring an additional 2,104,597 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock valued at $218,796,000 after purchasing an additional 93,130 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of RXO by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock worth $153,780,000 after buying an additional 735,810 shares during the last quarter. State Street Corp grew its position in RXO by 3.7% in the fourth quarter. State Street Corp now owns 6,370,232 shares of the company’s stock valued at $80,520,000 after acquiring an additional 230,053 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of RXO by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company’s stock valued at $49,008,000 after purchasing an additional 18,110 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.