RXO (NYSE:RXO) Downgraded by Citizens Jmp to Market Perform

Key Points

• Citizens JMP downgraded RXO from “outperform” to “market perform,” adding to mixed analyst sentiment. The consensus rating is “Hold,” with an average price target of $26.08.
• RXO shares opened at $28.69, near their 52-week high of $29.90, and were up 0.3%. The company recently exceeded quarterly estimates, reporting $0.06 in EPS and $1.77 billion in revenue, with revenue up 25% year over year.
• Institutional ownership remains high at 92.73%, with notable recent buying from Maple Rock Capital Partners, Dimensional Fund Advisors and Bank of America.

RXO (NYSE:RXO - Get Free Report) was downgraded by Citizens Jmp from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

RXO has been the subject of several other research reports. BMO Capital Markets downgraded shares of RXO from an "outperform" rating to a "hold" rating and set a $30.25 target price for the company. in a research note on Tuesday, October 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of RXO in a research report on Tuesday, September 1st. Benchmark reissued a "hold" rating on shares of RXO in a report on Tuesday, July 28th. UBS Group set a $19.00 price target on shares of RXO in a report on Wednesday, September 23rd. Finally, Stephens upgraded shares of RXO to a "hold" rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of "Hold" and an average target price of $26.08.

RXO Trading Up 0.3%

RXO stock opened at $28.69 on Thursday. The business has a fifty day moving average price of $22.20 and a 200 day moving average price of $22.66. RXO has a fifty-two week low of $10.43 and a fifty-two week high of $29.90. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -47.04 and a beta of 2.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. RXO's quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Analysts expect that RXO will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RXO. Maple Rock Capital Partners Inc. bought a new stake in shares of RXO during the second quarter worth approximately $71,283,000. Dimensional Fund Advisors LP grew its position in shares of RXO by 32.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company's stock valued at $29,949,000 after purchasing an additional 504,955 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of RXO by 2.0% during the first quarter. Principal Financial Group Inc. now owns 798,285 shares of the company's stock worth $11,671,000 after purchasing an additional 16,029 shares during the period. Bank of America Corp DE increased its stake in shares of RXO by 128.6% during the first quarter. Bank of America Corp DE now owns 724,060 shares of the company's stock worth $10,586,000 after purchasing an additional 407,285 shares during the period. Finally, Emerald Advisers LLC lifted its holdings in RXO by 434,029.7% during the 1st quarter. Emerald Advisers LLC now owns 438,471 shares of the company's stock worth $6,410,000 after purchasing an additional 438,370 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Company Profile

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO's services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.

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