Wells Fargo & Company Reaffirms “Equal Weight” Rating for RXO (NYSE:RXO)

Wells Fargo & Company reissued their equal weight rating on shares of RXO (NYSE:RXO) in a research note issued to investors on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has a $31.00 price target on the stock.

Several other brokerages also recently commented on RXO. Jefferies Financial Group decreased their target price on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Susquehanna lowered their price objective on shares of RXO from $20.00 to $16.00 and set a “negative” rating for the company in a research note on Thursday, September 26th. Barclays increased their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Benchmark restated a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Finally, TD Cowen increased their price objective on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.29.

RXO Price Performance

NYSE RXO opened at $27.48 on Monday. The company has a 50-day simple moving average of $27.84 and a two-hundred day simple moving average of $25.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. RXO has a 12-month low of $18.75 and a 12-month high of $32.82.

RXO (NYSE:RXO) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. RXO’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. As a group, equities analysts predict that RXO will post 0.12 earnings per share for the current year.

Institutional Trading of RXO

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares during the period. Motco lifted its holdings in shares of RXO by 5,450.0% during the first quarter. Motco now owns 2,442 shares of the company’s stock valued at $53,000 after purchasing an additional 2,398 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after purchasing an additional 3,487 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of RXO in the 2nd quarter worth approximately $112,000. Finally, KBC Group NV grew its stake in shares of RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after acquiring an additional 890 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.