RXO (NYSE:RXO) Upgraded to “Hold” at Stephens

Stephens upgraded shares of RXO (NYSE:RXO) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Susquehanna raised their price objective on RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $18.00 price target on shares of RXO in a research report on Friday, May 8th. Citigroup raised their price target on shares of RXO from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen lifted their price objective on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased their target price on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.00.

RXO Stock Performance

Shares of RXO stock opened at $26.79 on Wednesday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -43.92 and a beta of 2.03. RXO has a 52-week low of $10.43 and a 52-week high of $29.86. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $24.64 and its 200 day moving average is $18.38.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.RXO’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts anticipate that RXO will post 0.08 EPS for the current fiscal year.

Institutional Trading of RXO

Several large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of RXO by 20.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,110,413 shares of the company’s stock worth $14,036,000 after purchasing an additional 190,583 shares during the period. Vanguard Group Inc. increased its holdings in RXO by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after buying an additional 93,130 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in RXO in the 4th quarter worth approximately $11,224,000. Patten Group Inc. purchased a new position in RXO during the 4th quarter worth approximately $404,000. Finally, Hudson Bay Capital Management LP purchased a new position in RXO during the 3rd quarter worth approximately $2,084,000. Hedge funds and other 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.