Oppenheimer Reiterates Outperform Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $31.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 19.37% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Susquehanna boosted their target price on shares of RXO from $14.00 to $20.00 and gave the company a “negative” rating in a research note on Thursday, August 15th. Barclays raised their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut their target price on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given 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 $26.00.

RXO Stock Up 0.5 %

Shares of NYSE RXO traded up $0.14 during midday trading on Tuesday, reaching $25.97. 572,456 shares of the company’s stock traded hands, compared to its average volume of 794,453. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -288.56, a P/E/G ratio of 12.46 and a beta of 1.35. RXO has a one year low of $16.94 and a one year high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $28.63 and its 200-day simple moving average is $23.80.

RXO (NYSE:RXO) last issued 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. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, analysts predict that RXO will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in RXO by 27.5% during the 4th quarter. Victory Capital Management Inc. now owns 38,479 shares of the company’s stock worth $895,000 after purchasing an additional 8,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after acquiring an additional 93,885 shares during the period. Independent Advisor Alliance boosted its holdings in shares of RXO by 26.0% in the fourth quarter. Independent Advisor Alliance now owns 29,576 shares of the company’s stock valued at $688,000 after acquiring an additional 6,101 shares in the last quarter. Norges Bank acquired a new position in shares of RXO during the fourth quarter worth about $24,250,000. Finally, US Bancorp DE raised its holdings in RXO by 430.2% during the fourth quarter. US Bancorp DE now owns 45,309 shares of the company’s stock worth $1,054,000 after purchasing an additional 36,764 shares in the last quarter. 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.