RXO (NYSE:RXO) Price Target Cut to $31.00

RXO (NYSE:RXO) had its target price trimmed by Jefferies Financial Group from $33.00 to $31.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of RXO from $22.00 to $31.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. TD Cowen increased their price objective on RXO from $23.00 to $28.00 and gave the stock a hold rating in a research report on Thursday, August 8th. Barclays boosted their target price on RXO from $24.00 to $30.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Raymond James initiated coverage on RXO in a report on Wednesday, May 15th. They set a market perform rating for the company. Finally, Morgan Stanley boosted their price objective on shares of RXO from $19.00 to $26.00 and gave the company an equal weight rating in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RXO presently has a consensus rating of Hold and a consensus target price of $26.00.

RXO Price Performance

Shares of NYSE RXO opened at $28.66 on Tuesday. The stock has a market cap of $3.37 billion, a P/E ratio of -318.44, a P/E/G ratio of 7.26 and a beta of 1.38. RXO has a twelve month low of $16.94 and a twelve month high of $32.82. The stock has a 50 day moving average of $26.62 and a two-hundred day moving average of $22.77. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. RXO’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, research analysts forecast that RXO will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB purchased a new stake in RXO during the first quarter worth about $76,982,000. MFN Partners Management LP increased its holdings in RXO by 19.8% in the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock valued at $340,922,000 after buying an additional 2,580,330 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of RXO by 1,459.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after acquiring an additional 1,523,650 shares during the period. Motley Fool Asset Management LLC boosted its stake in shares of RXO by 287.9% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock worth $34,605,000 after acquiring an additional 1,174,361 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RXO in the 4th quarter worth approximately $24,250,000. 92.73% of the stock is owned by institutional investors and hedge funds.

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.