Stifel Nicolaus Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its target price cut by investment analysts at Stifel Nicolaus from $27.00 to $24.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 17.22% from the company’s current price.

RXO has been the subject of several other reports. Wells Fargo & Company reduced their price target on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Susquehanna cut their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Barclays decreased their target price on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley cut their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.14.

RXO Stock Down 4.6 %

RXO stock opened at $20.48 on Thursday. The company has a market capitalization of $3.29 billion, a P/E ratio of -10.34, a price-to-earnings-growth ratio of 3.98 and a beta of 1.53. RXO has a 12 month low of $18.75 and a 12 month high of $32.82. The firm’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $27.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. As a group, equities research analysts forecast that RXO will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RXO by 16.9% during the third quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after buying an additional 441,994 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of RXO by 27.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock valued at $56,629,000 after buying an additional 508,330 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after buying an additional 76,653 shares in the last quarter. Finally, Fred Alger Management LLC boosted its position in RXO by 31.9% during the third quarter. Fred Alger Management LLC now owns 1,751,114 shares of the company’s stock worth $49,031,000 after acquiring an additional 423,822 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

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.