RXO (NYSE:RXO) Rating Reiterated by Stephens

RXO (NYSE:RXO)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Stephens in a research report issued on Monday, Benzinga reports. They presently have a $22.00 price target on the stock. Stephens’ target price would suggest a potential upside of 6.18% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Benchmark restated a “hold” rating on shares of RXO in a research note on Friday, April 19th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, January 10th. TD Cowen increased their price target on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, Susquehanna upped their price objective on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Three investment 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’s stock. According to data from MarketBeat.com, RXO has a consensus rating of “Hold” and an average price target of $20.55.

RXO Stock Performance

Shares of NYSE:RXO opened at $20.72 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. The firm has a market cap of $2.44 billion, a PE ratio of -229.67, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24. The firm’s 50 day simple moving average is $20.57 and its 200-day simple moving average is $20.92. RXO has a one year low of $16.94 and a one year high of $24.33.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. As a group, equities analysts predict that RXO will post 0.2 EPS for the current year.

Insider Buying and Selling at RXO

In other RXO news, major shareholder Mfn Partners, Lp acquired 5,139 shares of the company’s stock in a transaction on Friday, April 12th. The shares were bought at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the purchase, the insider now owns 15,593,694 shares in the company, valued at approximately $317,955,420.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 2,047,358 shares of company stock worth $41,441,391. 1.80% of the stock is owned by insiders.

Institutional Trading of RXO

Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in RXO in the 4th quarter valued at approximately $24,250,000. Jacobs Levy Equity Management Inc. lifted its position in shares of RXO by 290.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock valued at $17,142,000 after acquiring an additional 646,540 shares in the last quarter. Intrinsic Edge Capital Management LLC boosted its stake in shares of RXO by 325.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock valued at $18,551,000 after acquiring an additional 610,166 shares during the last quarter. 683 Capital Management LLC increased its position in RXO by 154.9% during the 3rd quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock worth $12,824,000 after purchasing an additional 395,000 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in RXO by 10.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock valued at $59,997,000 after purchasing an additional 248,883 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.