The Goldman Sachs Group Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target lowered by equities researchers at The Goldman Sachs Group from $28.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 11.93% from the company’s current price.

Other analysts also recently issued reports about the company. Barclays cut their target price on RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Susquehanna lowered their price target on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Morgan Stanley lowered their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company lowered their price target on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered their price target on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and a consensus target price of $26.14.

RXO Stock Performance

Shares of NYSE RXO traded down $0.05 during midday trading on Thursday, reaching $21.44. The company had a trading volume of 870,656 shares, compared to its average volume of 1,072,993. The business’s 50-day simple moving average is $25.96 and its 200 day simple moving average is $27.55. The stock has a market cap of $3.45 billion, a P/E ratio of -10.81, a P/E/G ratio of 3.98 and a beta of 1.53. RXO has a 1 year low of $18.75 and a 1 year high of $32.82. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. On average, analysts forecast that RXO will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RXO. Oregon Public Employees Retirement Fund boosted its position in RXO by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock worth $783,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC boosted its position in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after purchasing an additional 510 shares in the last quarter. Blue Trust Inc. boosted its position in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after purchasing an additional 510 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in RXO by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after purchasing an additional 551 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.