RXO (NYSE:RXO) Price Target Raised to $25.00

RXO (NYSE:RXO) had its price objective raised by JPMorgan Chase & Co. from $16.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms have also recently weighed in on RXO. Benchmark restated a hold rating on shares of RXO in a research report on Wednesday, June 12th. Susquehanna boosted their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a negative rating in a research report on Monday, March 25th. TD Cowen boosted their price objective on shares of RXO from $19.00 to $20.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Raymond James started coverage on shares of RXO in a research report on Wednesday, May 15th. They set a market perform rating for the company. Finally, Stephens reiterated an equal weight rating and set a $22.00 target price on shares of RXO in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, RXO presently has a consensus rating of Hold and a consensus price target of $21.11.

RXO Price Performance

Shares of RXO opened at $27.10 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. RXO has a one year low of $16.94 and a one year high of $28.36. The business’s 50 day simple moving average is $22.21 and its 200-day simple moving average is $21.61.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. During the same quarter in the previous year, the company posted $0.11 EPS. RXO’s revenue was down 9.6% on a year-over-year basis. As a group, equities analysts anticipate that RXO will post 0.16 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Mfn Partners, Lp purchased 35,985 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was bought at an average price of $20.22 per share, with a total value of $727,616.70. Following the acquisition, the insider now directly owns 15,629,679 shares of the company’s stock, valued at $316,032,109.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 1,122,921 shares of company stock valued at $21,994,306 in the last quarter. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund boosted its stake in RXO by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after purchasing an additional 543 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after purchasing an additional 820 shares during the period. Hohimer Wealth Management LLC boosted its stake in RXO by 2.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after purchasing an additional 1,109 shares during the period. GAMMA Investing LLC acquired a new position in RXO in the 4th quarter worth $27,000. Finally, Texas Permanent School Fund Corp boosted its stake in RXO by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,420 shares of the company’s stock worth $2,240,000 after purchasing an additional 1,348 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Company Profile

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.