Bank of Montreal Can Takes Position in RXO, Inc. (NYSE:RXO)

Bank of Montreal Can purchased a new stake in shares of RXO, Inc. (NYSE:RXO – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 14,834 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new position in RXO in the fourth quarter valued at about $2,106,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in RXO in the fourth quarter valued at about $275,000. New Mexico Educational Retirement Board purchased a new position in RXO in the fourth quarter valued at about $308,000. Antonetti Capital Management LLC purchased a new position in RXO in the fourth quarter valued at about $29,000. Finally, Janney Montgomery Scott LLC purchased a new position in RXO in the fourth quarter valued at about $332,000. Hedge funds and other institutional investors own 9.85% of the company’s stock.

RXO Stock Up 1.9 %

Shares of RXO stock opened at $19.45 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $19.25. RXO, Inc. has a 1-year low of $14.75 and a 1-year high of $25.50.

RXO (NYSE:RXO – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.07 billion. The company’s revenue for the quarter was down 22.9% compared to the same quarter last year. Analysts expect that RXO, Inc. will post 0.73 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on RXO. Cowen began coverage on RXO in a research note on Monday, February 27th. They issued a “market perform” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on RXO in a research note on Monday, January 9th. They set a “neutral” rating and a $19.00 price target on the stock. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of RXO in a research note on Wednesday, February 8th. Stifel Nicolaus lowered RXO from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $17.00 in a research note on Wednesday, January 11th. Finally, Benchmark assumed coverage on RXO in a research note on Tuesday, April 4th. They set a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.62.

RXO Profile

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RXO, Inc provides full truckload freight transportation brokering services through its proprietary digital marketplace in North America. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was founded in 2022 and is based in Charlotte, North Carolina.