RXO’s (RXO) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of RXO (NYSE:RXO) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $31.00 price target on the stock.

A number of other equities analysts have also recently issued reports on RXO. Barclays upped their price objective on shares of RXO from $24.00 to $30.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Morgan Stanley upped their price objective on shares of RXO from $19.00 to $26.00 and gave the stock an equal weight rating in a research report on Monday, August 12th. Jefferies Financial Group decreased their price target on shares of RXO from $33.00 to $31.00 and set a buy rating for the company in a research report on Tuesday, August 13th. TD Cowen upped their price target on shares of RXO from $23.00 to $28.00 and gave the company a hold rating in a research report on Thursday, August 8th. Finally, Benchmark restated a hold rating on shares of RXO in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $26.00.

RXO Stock Performance

Shares of RXO stock opened at $27.10 on Tuesday. The company has a 50 day moving average of $28.61 and a 200-day moving average of $23.85. RXO has a 1-year low of $16.94 and a 1-year high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. Research analysts expect that RXO will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in RXO by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after buying an additional 93,885 shares during the last quarter. Douglas Lane & Associates LLC grew its holdings in RXO by 2.6% in the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after purchasing an additional 66,757 shares during the period. Norges Bank acquired a new stake in RXO in the fourth quarter worth $24,250,000. GSA Capital Partners LLP grew its holdings in RXO by 433.8% in the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after purchasing an additional 45,510 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new stake in RXO in the first quarter worth $542,000. 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.