RXO (NYSE:RXO) Given New $15.00 Price Target at Barclays

RXO (NYSE:RXO) had its price objective trimmed by Barclays from $17.00 to $15.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RXO has been the subject of several other research reports. The Goldman Sachs Group dropped their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of RXO in a report on Friday, August 8th. Stifel Nicolaus increased their target price on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Truist Financial set a $22.00 target price on RXO in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $16.85.

RXO Trading Down 8.0%

Shares of NYSE:RXO traded down $1.09 during midday trading on Friday, reaching $12.47. 3,250,090 shares of the company’s stock were exchanged, compared to its average volume of 1,815,074. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -28.99, a P/E/G ratio of 8.53 and a beta of 1.67. RXO has a fifty-two week low of $12.16 and a fifty-two week high of $31.11. The firm’s 50 day simple moving average is $16.70 and its two-hundred day simple moving average is $16.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.35.

RXO (NYSE:RXO) last announced its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. As a group, sell-side analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC purchased a new stake in shares of RXO during the second quarter worth approximately $29,000. Geneos Wealth Management Inc. acquired a new position in RXO during the 1st quarter worth approximately $30,000. Larson Financial Group LLC increased its position 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 valued at $33,000 after purchasing an additional 1,632 shares during the last quarter. CWM LLC raised its holdings in shares of RXO by 234.4% in the 1st quarter. CWM LLC now owns 1,876 shares of the company’s stock valued at $36,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of RXO by 27.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after purchasing an additional 701 shares during the last quarter. 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.