RXO (NYSE:RXO) Price Target Raised to $20.00

RXO (NYSE:RXOFree Report) had its price objective boosted by Truist Financial from $18.00 to $20.00 in a research note released on Monday morning, Marketbeat reports. The brokerage currently has a buy rating on the stock.

RXO has been the subject of a number of other research reports. UBS Group reissued a “neutral” rating on shares of RXO in a research note on Sunday. Zacks Research lowered RXO from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Stifel Nicolaus set a $15.00 price objective on RXO in a research note on Thursday, February 5th. Wolfe Research upgraded RXO from an “underperform” rating to a “peer perform” rating in a research note on Friday, November 14th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus price target of $16.33.

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RXO Stock Performance

RXO stock opened at $16.32 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.32. The business has a 50-day moving average price of $14.58 and a 200 day moving average price of $15.16. The company has a market capitalization of $2.68 billion, a P/E ratio of -28.14, a PEG ratio of 12.64 and a beta of 1.74. RXO has a 1-year low of $10.43 and a 1-year high of $22.17.

RXO (NYSE:RXOGet Free Report) last issued its earnings results on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. As a group, equities research analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other RXO news, Director Troy A. Cooper purchased 8,317 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of $10.61 per share, for a total transaction of $88,243.37. Following the completion of the purchase, the director owned 275,416 shares in the company, valued at $2,922,163.76. This represents a 3.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently modified their holdings of RXO. Frontier Capital Management Co. LLC raised its stake in shares of RXO by 39.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after buying an additional 511,036 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in RXO by 67.3% during the second quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock worth $3,008,000 after acquiring an additional 76,965 shares during the period. Cornerstone Wealth Group LLC acquired a new position in RXO in the third quarter valued at approximately $4,026,000. Edgestream Partners L.P. purchased a new stake in RXO in the 2nd quarter worth approximately $5,611,000. Finally, EFG Asset Management North America Corp. boosted its position in RXO by 28.4% in the 2nd quarter. EFG Asset Management North America Corp. now owns 143,927 shares of the company’s stock worth $2,264,000 after purchasing an additional 31,860 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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About RXO

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RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.

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