RXO (NYSE:RXO) PT Raised to $26.00 at Morgan Stanley

RXO (NYSE:RXO) had its target price lifted by investment analysts at Morgan Stanley from $19.00 to $26.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 7.18% from the stock’s previous close.

Several other brokerages also recently weighed in on RXO. Stephens reiterated an “equal weight” rating and issued a $22.00 price objective on shares of RXO in a research report on Monday, May 6th. Oppenheimer boosted their price objective on shares of RXO from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group raised their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their price target on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.18.

RXO Price Performance

NYSE:RXO traded down $0.71 during mid-day trading on Monday, reaching $28.01. The stock had a trading volume of 224,309 shares, compared to its average volume of 705,340. The stock has a market capitalization of $3.29 billion, a P/E ratio of -313.00, a P/E/G ratio of 5.60 and a beta of 1.38. The firm has a 50 day moving average price of $26.03 and a two-hundred day moving average price of $22.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14. RXO has a one year low of $16.94 and a one year high of $32.82.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. As a group, analysts expect that RXO will post 0.17 earnings per share for the current year.

Institutional Trading of RXO

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in RXO during the fourth quarter worth about $27,000. Motco lifted its holdings in shares of RXO by 5,450.0% during the first quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after purchasing an additional 2,398 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after purchasing an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of RXO by 2,235.3% in the 1st 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 last quarter. Finally, International Assets Investment Management LLC increased its position in RXO by 2,008.5% during the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after buying an additional 4,941 shares in the last quarter. 92.73% of the stock is 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.