RXO (NYSE:RXO) Price Target Increased to $20.00 by Analysts at TD Cowen

RXO (NYSE:RXO) had its price objective upped by TD Cowen from $19.00 to $20.00 in a report issued on Friday morning, MarketBeat Ratings reports. They currently have a hold rating on the stock.

RXO has been the topic of several other reports. Vertical Research cut shares of RXO from a buy rating to a hold rating and set a $23.00 price target on the stock. in a report on Wednesday, January 10th. Susquehanna boosted their target price on RXO from $15.00 to $16.00 and gave the stock a negative rating in a research note on Monday, March 25th. Benchmark reaffirmed a hold rating on shares of RXO in a research report on Friday, April 19th. Stifel Nicolaus lifted their price target on RXO from $20.00 to $22.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Finally, Bank of America downgraded RXO from a buy rating to a neutral rating and reduced their price objective for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, RXO presently has a consensus rating of Hold and a consensus target price of $20.27.

RXO Stock Up 1.4 %

Shares of RXO stock traded up $0.29 on Friday, hitting $20.41. The company had a trading volume of 541,494 shares, compared to its average volume of 785,063. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -226.78, a P/E/G ratio of 7.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. RXO has a 1 year low of $16.94 and a 1 year high of $24.33. The stock has a 50 day moving average of $20.58 and a 200-day moving average of $20.88.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. As a group, sell-side analysts forecast that RXO will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Mfn Partners, Lp acquired 5,139 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were acquired at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the purchase, the insider now owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders bought 1,942,293 shares of company stock valued at $39,332,736. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RXO. Douglas Lane & Associates LLC boosted its holdings in shares of RXO by 2.6% in the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after acquiring an additional 66,757 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in RXO by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after purchasing an additional 23,497 shares during the period. Dimensional Fund Advisors LP grew its holdings in RXO by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after buying an additional 93,885 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of RXO by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock valued at $42,415,000 after buying an additional 141,056 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of RXO by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock worth $41,345,000 after buying an additional 138,365 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

About RXO

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.