Benchmark Reiterates Hold Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO)‘s stock had its “hold” rating reaffirmed by equities researchers at Benchmark in a research note issued to investors on Friday, Benzinga reports.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus raised their target price on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. TD Cowen raised their target price on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research report on Friday, February 9th. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Thursday, February 8th. Oppenheimer decreased their target price on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. Finally, Susquehanna raised their target price on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.23.

RXO Stock Performance

Shares of RXO stock opened at $19.37 on Friday. The company has a market capitalization of $2.28 billion, a P/E ratio of 484.37, a P/E/G ratio of 6.66 and a beta of 1.08. The business’s 50 day moving average is $20.95 and its two-hundred day moving average is $20.86. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. RXO has a 12-month low of $16.94 and a 12-month high of $24.33.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $978.00 million for the quarter, compared to the consensus estimate of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. RXO’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Analysts expect that RXO will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other RXO news, major shareholder Mfn Partners, Lp bought 919,720 shares of RXO stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $21.04 per share, for a total transaction of $19,350,908.80. Following the completion of the transaction, the insider now directly owns 14,675,369 shares of the company’s stock, valued at $308,769,763.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 2,578,268 shares of company stock valued at $52,301,046. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in RXO in the fourth quarter valued at $26,000. GAMMA Investing LLC purchased a new stake in shares of RXO in the 4th quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after buying an additional 1,962 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of RXO in the 4th quarter valued at $39,000. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of RXO in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.