RXO (NYSE:RXO) Stock Price Down 8.9% – Here’s What Happened

Rxo Inc (NYSE:RXO)’s stock price was down 8.9% during trading on Monday . The company traded as low as $14.39 and last traded at $14.3510. Approximately 645,384 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,701,742 shares. The stock had previously closed at $15.76.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RXO shares. Benchmark reissued a “hold” rating on shares of RXO in a research report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of RXO in a research note on Monday, December 22nd. Wolfe Research raised RXO from an “underperform” rating to a “peer perform” rating in a report on Friday, November 14th. UBS Group reissued a “neutral” rating on shares of RXO in a report on Sunday, February 8th. Finally, Stifel Nicolaus set a $15.00 price target on shares of RXO in a research report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.33.

RXO Trading Down 6.7%

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $14.55 and a 200-day moving average price of $15.11. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -25.36, a price-to-earnings-growth ratio of 8.47 and a beta of 1.74.

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

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently modified their holdings of RXO. Attestor Capital Ltd bought a new position in RXO in the fourth quarter valued at about $3,610,000. Invesco Ltd. boosted its holdings in shares of RXO by 22.6% during the 4th quarter. Invesco Ltd. now owns 1,172,748 shares of the company’s stock worth $14,824,000 after buying an additional 216,399 shares during the period. Corient Private Wealth LLC bought a new position in shares of RXO during the fourth quarter worth approximately $152,000. Mercer Global Advisors Inc. ADV increased its stake in RXO by 41.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,436 shares of the company’s stock valued at $195,000 after acquiring an additional 4,499 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of RXO during the fourth quarter worth $129,000. Institutional investors own 92.73% of the company’s stock.

RXO Company Profile

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.