Benchmark Reiterates Hold Rating for RXO (NYSE:RXO)

RXO (NYSE:RXO)‘s stock had its “hold” rating reiterated by equities researchers at Benchmark in a note issued to investors on Friday, Benzinga reports.

A number of other equities analysts have also recently weighed in on RXO. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, January 10th. Stifel Nicolaus raised their target price on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Oppenheimer dropped their price objective on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Finally, Bank of America cut RXO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.23.

RXO Stock Up 3.3 %

RXO stock traded up $0.62 on Friday, hitting $19.55. 157,104 shares of the company’s stock were exchanged, compared to its average volume of 641,104. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day moving average price of $20.97 and a two-hundred day moving average price of $20.85. The stock has a market cap of $2.30 billion, a P/E ratio of 487.87, a price-to-earnings-growth ratio of 6.77 and a beta of 1.08. RXO has a 12-month low of $16.94 and a 12-month high of $24.33.

RXO (NYSE:RXO) last issued its earnings results on Thursday, February 8th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The firm had revenue of $978.00 million for the quarter, compared to the consensus estimate of $996.33 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was down 12.7% compared to the same quarter last year. As a group, equities research analysts expect that RXO will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other RXO news, major shareholder Mfn Partners, Lp purchased 35,985 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were bought at an average price of $20.22 per share, with a total value of $727,616.70. Following the completion of the acquisition, the insider now owns 15,629,679 shares in the company, valued at approximately $316,032,109.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 1,708,268 shares of company stock valued at $35,318,646 over the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXO. GAMMA Investing LLC purchased a new position in RXO during the 4th quarter worth approximately $27,000. Bessemer Group Inc. acquired a new stake in shares of RXO during the 4th quarter valued at $26,000. Allspring Global Investments Holdings LLC boosted its stake in shares of RXO by 6,329.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after buying an additional 1,962 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of RXO during the 4th quarter valued at $39,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of RXO during the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.