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

RXO (NYSE:RXO) had its price objective lifted by The Goldman Sachs Group from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

RXO has been the subject of a number of other research reports. TD Cowen raised their price objective on shares of RXO from $14.00 to $21.00 and gave the company a “hold” rating in a report on Friday, May 8th. Zacks Research raised shares of RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wells Fargo & Company boosted their target price on shares of RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Stifel Nicolaus upped their price target on shares of RXO from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Bank of America dropped their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average target price of $23.57.

RXO Price Performance

Shares of RXO opened at $29.41 on Thursday. RXO has a 12-month low of $10.43 and a 12-month high of $29.86. The business has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $19.06. 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 stock has a market cap of $4.85 billion, a PE ratio of -48.22 and a beta of 2.03.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Analysts anticipate that RXO will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of hedge funds have recently made changes to their positions in the stock. Orbis Allan Gray Ltd boosted its holdings in RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after acquiring an additional 2,104,597 shares during the last quarter. Vanguard Group Inc. increased its position in RXO by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock valued at $218,796,000 after purchasing an additional 93,130 shares during the period. Wellington Management Group LLP raised its holdings in RXO by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock worth $153,780,000 after purchasing an additional 735,810 shares during the last quarter. State Street Corp raised its holdings in RXO by 3.7% during the 4th quarter. State Street Corp now owns 6,370,232 shares of the company’s stock worth $80,520,000 after purchasing an additional 230,053 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of RXO by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company’s stock worth $49,008,000 after purchasing an additional 18,110 shares during the period. 92.73% of the stock is currently owned by institutional investors.

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.