Quintet Private Bank Europe S.A. Grows Stock Position in RXO, Inc. (NYSE:RXO)

Quintet Private Bank Europe S.A. lifted its stake in RXO, Inc. (NYSE:RXO) by 29.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,304 shares of the company’s stock after buying an additional 1,212 shares during the period. Quintet Private Bank Europe S.A.’s holdings in RXO were worth $149,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of RXO by 40.0% in the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after buying an additional 510 shares during the period. Motco increased its holdings in shares of RXO by 5,450.0% in the first quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after buying an additional 2,398 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after buying an additional 3,487 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of RXO in the second quarter worth about $112,000. Finally, City Holding Co. increased its holdings in shares of RXO by 57.9% in the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock worth $147,000 after buying an additional 1,921 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RXO. Benchmark reissued a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Susquehanna cut their target price on RXO from $20.00 to $16.00 and set a “negative” rating on the stock in a research note on Thursday, September 26th. TD Cowen raised their target price on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Citigroup began coverage on RXO in a research note on Wednesday, October 9th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Barclays raised their target price on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and an average price target of $26.23.

RXO Price Performance

RXO stock opened at $27.95 on Tuesday. The stock’s 50 day simple moving average is $27.75 and its two-hundred day simple moving average is $25.55. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. RXO, Inc. has a fifty-two week low of $17.17 and a fifty-two week high of $32.82.

RXO (NYSE:RXO) last released its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $934.14 million. During the same period last year, the business earned $0.08 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that RXO, Inc. will post 0.15 earnings per share for the current year.

RXO 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.