RXO (NYSE:RXO) Stock Price Up 6.8% After Analyst Upgrade

Rxo Inc (NYSE:RXO) shares traded up 6.8% on Thursday after Truist Financial raised their price target on the stock from $26.00 to $30.00. Truist Financial currently has a buy rating on the stock. RXO traded as high as $28.69 and last traded at $28.90. 261,267 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,287,262 shares. The stock had previously closed at $27.07.

Several other brokerages also recently commented on RXO. Stephens upgraded shares of RXO to a “hold” rating in a report on Wednesday, July 8th. UBS Group upped their target price on RXO from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. TD Cowen increased their price target on RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a 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 note on Friday, May 8th. Finally, Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average price target of $23.43.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently modified their holdings of RXO. Orbis Allan Gray Ltd increased its holdings in RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after purchasing an additional 2,104,597 shares during the period. Franklin Resources Inc. lifted its holdings in shares of RXO by 91.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after buying an additional 1,110,530 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of RXO during the 4th quarter worth $11,224,000. Wellington Management Group LLP grew its position in shares of 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 buying an additional 735,810 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in shares of RXO during the fourth quarter valued at $9,098,000. Institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

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 firm has a 50 day moving average price of $25.42 and a 200 day moving average price of $18.88. The stock has a market cap of $4.76 billion, a PE ratio of -47.42 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 analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that Rxo Inc will post 0.07 earnings per share for the current year.

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.