Morgan Stanley Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective lowered by Morgan Stanley from $27.00 to $25.00 in a report issued on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays cut their target price on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Citigroup cut shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Tuesday, November 12th. Jefferies Financial Group lowered their price target on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus target price of $26.14.

RXO Stock Performance

Shares of RXO opened at $21.46 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $25.79 and a 200-day simple moving average of $27.51. RXO has a 52-week low of $18.75 and a 52-week high of $32.82.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. On average, analysts predict that RXO will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in RXO during the third quarter worth approximately $28,000. Blue Trust Inc. grew its stake in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the period. Smartleaf Asset Management LLC grew its stake in RXO by 228.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after buying an additional 868 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. Finally, GAMMA Investing LLC grew its stake in RXO by 40.0% during 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. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.