RXO (NYSE:RXO) PT Raised to $28.00

RXO (NYSE:RXO) had its target price hoisted by stock analysts at TD Cowen from $23.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential downside of 4.01% from the stock’s previous close.

A number of other brokerages have also issued reports on RXO. Stephens reaffirmed an “equal weight” rating and set a $22.00 target price on shares of RXO in a research report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of RXO in a report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their price target on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday. Oppenheimer boosted their price target on shares of RXO from $22.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James began coverage on shares of RXO in a report on Wednesday, May 15th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.45.

RXO Stock Performance

Shares of RXO stock traded up $0.06 on Thursday, reaching $29.17. The stock had a trading volume of 382,863 shares, compared to its average volume of 704,421. The business’s 50-day moving average price is $25.69 and its two-hundred day moving average price is $22.53. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $32.82. The stock has a market cap of $3.43 billion, a P/E ratio of -325.00, a price-to-earnings-growth ratio of 5.55 and a beta of 1.38.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. RXO’s revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that RXO will post 0.17 EPS for the current year.

Institutional Investors Weigh In On RXO

Several large investors have recently made changes to their positions in RXO. Emerald Advisers LLC lifted its position in RXO by 0.4% during the 2nd quarter. Emerald Advisers LLC now owns 443,386 shares of the company’s stock worth $11,595,000 after buying an additional 1,775 shares in the last quarter. Arizona State Retirement System raised its stake in shares of RXO by 2.3% during the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock worth $860,000 after buying an additional 751 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of RXO by 200.1% during the second quarter. Natixis Advisors LLC now owns 363,511 shares of the company’s stock worth $9,506,000 after buying an additional 242,388 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of RXO by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 874,912 shares of the company’s stock worth $22,879,000 after buying an additional 7,251 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of RXO by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock worth $1,545,000 after buying an additional 1,100 shares during the last quarter. 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.