Truist Financial Cuts RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its target price cut by analysts at Truist Financial from $22.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 60.45% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Barclays dropped their price target on shares of RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, October 22nd. The Goldman Sachs Group decreased their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Stifel Nicolaus raised their target price on RXO from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.85.

RXO Stock Performance

Shares of RXO stock traded down $1.09 on Friday, reaching $12.47. 3,250,090 shares of the company were exchanged, compared to its average volume of 1,725,022. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -5.77, a P/E/G ratio of 11.09 and a beta of 1.67. RXO has a 1-year low of $12.16 and a 1-year high of $31.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35. The company’s 50-day moving average is $16.78 and its two-hundred day moving average is $16.02.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.RXO’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. As a group, research analysts expect that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXO. Geneos Wealth Management Inc. bought a new position in RXO during the 1st quarter valued at $30,000. Larson Financial Group LLC raised its stake in shares of RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after buying an additional 1,632 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of RXO in the 2nd quarter worth $29,000. CWM LLC lifted its holdings in shares of RXO by 234.4% in the first quarter. CWM LLC now owns 1,876 shares of the company’s stock valued at $36,000 after buying an additional 1,315 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in RXO by 27.0% during the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock valued at $49,000 after buying an additional 701 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

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.