RXO (NYSE:RXO) Receives “Hold” Rating from Benchmark

Benchmark reiterated their hold rating on shares of RXO (NYSE:RXO) in a research note published on Wednesday morning,Benzinga reports.

RXO has been the topic of a number of other reports. Wells Fargo & Company reduced their price objective on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $29.00 target price on shares of RXO in a report on Monday, November 18th. Jefferies Financial Group dropped their target price on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 10th. Susquehanna cut their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research report on Tuesday, November 12th. Finally, Citigroup downgraded shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.77.

RXO Price Performance

RXO stock opened at $25.24 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The company’s 50-day simple moving average is $27.02 and its 200 day simple moving average is $27.82. RXO has a 52 week low of $18.75 and a 52 week high of $32.82.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $956.19 million. During the same period in the prior year, the company posted $0.05 earnings per share. RXO’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that RXO will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after acquiring an additional 1,445 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of RXO during the 4th quarter valued at $2,004,000. JPMorgan Chase & Co. lifted its position in shares of RXO by 71.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock valued at $7,618,000 after acquiring an additional 113,685 shares during the period. Principal Financial Group Inc. lifted its position in shares of RXO by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after acquiring an additional 66,159 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of RXO during the 3rd quarter valued at $22,344,000. 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.