RXO (NYSE:RXO) Hits New 52-Week High at $30.86

Shares of RXO, Inc. (NYSE:RXO) reached a new 52-week high on Thursday . The stock traded as high as $30.86 and last traded at $30.74, with a volume of 333986 shares traded. The stock had previously closed at $29.23.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RXO. Barclays lifted their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, June 12th. Raymond James initiated coverage on shares of RXO in a research report on Wednesday, May 15th. They set a “market perform” rating on the stock. Stephens reiterated an “equal weight” rating and set a $22.00 price target on shares of RXO in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of RXO from $16.00 to $25.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus price target of $22.00.

RXO Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50-day moving average is $24.04 and its two-hundred day moving average is $22.08.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts anticipate that RXO, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at RXO

In other news, major shareholder Mfn Partners, Lp acquired 105,065 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the transaction, the insider now directly owns 17,280,434 shares of the company’s stock, valued at approximately $346,818,310.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 105,487 shares of company stock worth $2,117,263 over the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its stake in RXO by 0.8% in the first quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after acquiring an additional 543 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock valued at $1,231,000 after acquiring an additional 820 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of RXO by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after acquiring an additional 1,100 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in RXO by 2.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after buying an additional 1,109 shares during the period. Finally, GAMMA Investing LLC acquired a new position in RXO in the 4th quarter worth approximately $27,000. 92.73% of the stock is currently owned by 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.