Truist Financial Cuts RXO (NYSE:RXO) Price Target to $18.00

RXO (NYSE:RXO) had its target price lowered by Truist Financial from $20.00 to $18.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley raised RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of RXO from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays decreased their target price on shares of RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. TD Cowen lifted their price target on shares of RXO from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, January 9th. Finally, Wolfe Research upgraded RXO from an “underperform” rating to a “peer perform” rating in a research note on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus target price of $16.14.

RXO Trading Down 3.7%

Shares of NYSE:RXO opened at $15.01 on Thursday. RXO has a 12-month low of $10.43 and a 12-month high of $26.92. The business has a 50 day moving average of $13.30 and a 200-day moving average of $15.31. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.46 billion, a PE ratio of -34.91, a P/E/G ratio of 7.32 and a beta of 1.74.

RXO (NYSE:RXO) last announced its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.RXO’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts forecast that RXO will post 0.31 earnings per share for the current year.

Insider Transactions at RXO

In other news, Director Thomas A. Szlosek purchased 20,308 shares of RXO stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $12.37 per share, for a total transaction of $251,209.96. Following the transaction, the director owned 36,508 shares of the company’s stock, valued at approximately $451,603.96. The trade was a 125.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Troy A. Cooper acquired 8,317 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $10.61 per share, for a total transaction of $88,243.37. Following the completion of the purchase, the director directly owned 275,416 shares of the company’s stock, valued at $2,922,163.76. The trade was a 3.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 40,250 shares of company stock valued at $488,875. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently modified their holdings of the business. AlphaQuest LLC acquired a new stake in RXO in the second quarter valued at about $29,000. Geneos Wealth Management Inc. acquired a new stake in shares of RXO in the 1st quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of RXO in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC grew its holdings in shares of RXO by 146.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,766 shares of the company’s stock valued at $43,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in RXO by 27.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after purchasing an additional 701 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

About RXO

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.