RXO (NYSE:RXO) Raised to "Neutral" at Susquehanna

Key Points

• Susquehanna upgraded RXO to “Neutral” from “Negative” and set a $19 price target, implying approximately 3.77% downside from the reported share price.
• Analyst sentiment remains mixed, with RXO carrying a consensus “Hold” rating from 19 analysts and an average price target of $23.85.
• RXO exceeded quarterly expectations, reporting $0.06 in EPS versus $0.04 expected and $1.77 billion in revenue, up 25% year over year; institutional investors own 92.73% of the stock.

RXO (NYSE:RXO - Get Free Report) was upgraded by Susquehanna from a "negative" rating to a "neutral" rating in a research note issued on Wednesday, Marketbeat reports. The brokerage currently has a $19.00 price target on the stock. Susquehanna's price target suggests a potential downside of 3.77% from the stock's current price.

A number of other brokerages have also issued reports on RXO. UBS Group decreased their target price on shares of RXO from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Truist Financial cut their price target on RXO from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 7th. Stephens raised RXO to a "hold" rating in a research note on Wednesday, July 8th. William Blair set a $30.00 price objective on RXO in a report on Friday, August 7th. Finally, Wells Fargo & Company reiterated a "positive" rating on shares of RXO in a research note on Thursday, September 10th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, RXO currently has a consensus rating of "Hold" and an average target price of $23.85.

RXO Stock Up 0.1%

Shares of NYSE:RXO opened at $19.74 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.26 billion, a P/E ratio of -32.37 and a beta of 2.10. RXO has a 52-week low of $10.43 and a 52-week high of $29.90. The stock's fifty day simple moving average is $22.29 and its 200-day simple moving average is $21.39.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter last year, the business posted $0.04 EPS. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that RXO will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of large investors have recently modified their holdings of the company. City Holding Co. increased its position in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company's stock worth $34,000 after purchasing an additional 865 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in RXO during the first quarter valued at approximately $29,000. Nykredit A S purchased a new stake in RXO during the second quarter worth approximately $67,000. Public Employees Retirement System of Ohio increased its position in shares of RXO by 18.3% in the first quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company's stock worth $61,000 after acquiring an additional 649 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of RXO in the second quarter worth $133,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Company Profile

RXO Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. Its platform connects shippers with third-party carriers, helping businesses arrange the movement of truckload, less-than-truckload, expedited and other freight. The company also provides managed transportation services, including shipment planning, carrier sourcing, tracking and logistics coordination.

RXO primarily serves customers across North America, supporting freight movements in the United States, Canada and Mexico.

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