RXO (NYSE:RXO) Price Target Raised to $20.00 at TD Cowen

RXO (NYSE:RXO) had its target price lifted by TD Cowen from $19.00 to $20.00 in a report issued on Friday, MarketBeat reports. The brokerage currently has a hold rating on the stock.

A number of other research firms have also issued reports on RXO. Bank of America lowered RXO from a buy rating to a neutral rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Oppenheimer dropped their price target on shares of RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research note on Tuesday, February 13th. Susquehanna upped their price objective on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a research report on Monday, March 25th. Benchmark reaffirmed a hold rating on shares of RXO in a research report on Friday, April 19th. Finally, Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the company a hold rating in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $20.55.

RXO Trading Up 0.6 %

RXO stock traded up $0.13 during midday trading on Friday, reaching $20.54. The stock had a trading volume of 508,894 shares, compared to its average volume of 658,067. The stock’s 50-day simple moving average is $20.58 and its 200 day simple moving average is $20.91. RXO has a twelve month low of $16.94 and a twelve month high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.14. The stock has a market capitalization of $2.41 billion, a PE ratio of -228.44, a price-to-earnings-growth ratio of 7.91 and a beta of 1.24.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $929.50 million. During the same period in the previous year, the company posted $0.11 EPS. The company’s revenue was down 9.6% compared to the same quarter last year. Analysts expect that RXO will post 0.2 EPS for the current year.

Insider Activity

In other RXO news, major shareholder Mfn Partners, Lp bought 5,139 shares of the business’s stock in a transaction on Friday, April 12th. The shares were purchased at an average price of $20.39 per share, with a total value of $104,784.21. Following the completion of the acquisition, the insider now directly owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders bought 1,942,293 shares of company stock worth $39,332,736. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RXO

A number of hedge funds have recently added to or reduced their stakes in RXO. GAMMA Investing LLC acquired a new stake in shares of RXO in the 4th quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its position in RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in shares of RXO in the third quarter valued at approximately $45,000. TFO Wealth Partners LLC grew its holdings in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in RXO by 62.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after acquiring an additional 1,987 shares during the period. 92.73% of the stock is currently owned by institutional investors.

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.