Stifel Nicolaus Issues Pessimistic Forecast for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target lowered by Stifel Nicolaus from $27.00 to $24.00 in a research note published on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research firms have also recently commented on RXO. Susquehanna reduced their target price on RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research note on Tuesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 price objective on shares of RXO in a research report on Monday, November 18th. Citigroup cut RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Tuesday, November 12th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Finally, Morgan Stanley decreased their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus target price of $26.14.

RXO Stock Performance

Shares of NYSE RXO opened at $21.46 on Thursday. RXO has a 12 month low of $18.75 and a 12 month high of $32.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day moving average of $25.79 and a 200-day moving average of $27.51.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 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%. As a group, sell-side analysts expect that RXO will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several institutional investors have recently added to or reduced their stakes in RXO. Loomis Sayles & Co. L P purchased a new position in shares of RXO in the third quarter valued at about $27,964,000. Zimmer Partners LP bought a new stake in shares of RXO in the third quarter worth about $22,680,000. Franklin Resources Inc. purchased a new position in RXO during the 3rd quarter valued at about $22,344,000. Victory Capital Management Inc. raised its position in RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock valued at $21,314,000 after purchasing an additional 720,574 shares during the last quarter. Finally, State Street Corp lifted its holdings in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after buying an additional 602,741 shares during the period. 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.