RXO, Inc. (NYSE:RXO) Receives Average Rating of “Reduce” from Brokerages

Shares of RXO, Inc. (NYSE:RXO) have earned an average recommendation of “Reduce” from the twelve research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.23.

RXO has been the topic of several research reports. Oppenheimer cut their price target on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Susquehanna upped their price target on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Benchmark reiterated a “hold” rating on shares of RXO in a report on Friday, April 19th. Finally, Stifel Nicolaus upped their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, January 10th.

RXO Price Performance

RXO stock opened at $19.40 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $2.28 billion, a P/E ratio of 485.00, a P/E/G ratio of 6.81 and a beta of 1.08. The business’s fifty day moving average is $20.72 and its two-hundred day moving average is $20.89. RXO has a 52 week low of $16.94 and a 52 week high of $24.33.

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

Insiders Place Their Bets

In other RXO news, major shareholder Mfn Partners, Lp purchased 919,720 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the completion of the acquisition, the insider now directly owns 14,675,369 shares of the company’s stock, valued at $308,769,763.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 2,689,717 shares of company stock worth $54,468,072 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RXO

Several large investors have recently modified their holdings of RXO. GAMMA Investing LLC bought a new stake in shares of RXO in the fourth quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after buying an additional 1,962 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in shares of RXO during the third quarter worth about $45,000. TFO Wealth Partners LLC grew its holdings in shares of RXO by 106,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of RXO by 2,008.5% during the fourth quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock worth $121,000 after buying an additional 4,941 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

About RXO

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.