Bank of America Corp DE lifted its position in shares of Rxo Inc (NYSE:RXO - Free Report) by 128.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 724,060 shares of the company's stock after purchasing an additional 407,285 shares during the quarter. Bank of America Corp DE owned 0.44% of RXO worth $10,586,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Orbis Allan Gray Ltd raised its holdings in RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company's stock worth $438,327,000 after buying an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of RXO by 91.2% in the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company's stock valued at $35,818,000 after buying an additional 1,110,530 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of RXO by 7.9% during the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company's stock valued at $153,780,000 after buying an additional 735,810 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of RXO during the fourth quarter valued at about $9,098,000. Finally, UBS Group AG increased its position in shares of RXO by 45.9% during the third quarter. UBS Group AG now owns 2,159,907 shares of the company's stock worth $33,219,000 after acquiring an additional 679,040 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Morgan Stanley restated an "equal weight" rating and issued a $22.00 target price (up from $19.00) on shares of RXO in a report on Thursday, May 7th. The Goldman Sachs Group boosted their price objective on RXO from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Citizens Jmp raised RXO from a "market perform" rating to an "outperform" rating and set a $30.00 price target for the company in a research report on Friday, August 7th. Wall Street Zen upgraded RXO from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Stephens raised shares of RXO to a "hold" rating in a report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, RXO currently has an average rating of "Hold" and an average price target of $23.85.
Check Out Our Latest Stock Report on RXO
RXO Stock Performance
RXO stock opened at $22.47 on Monday. 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 firm has a market cap of $3.71 billion, a PE ratio of -36.84 and a beta of 2.10. The business has a 50 day moving average of $25.02 and a 200-day moving average of $20.65. Rxo Inc has a 12-month low of $10.43 and a 12-month high of $29.90.
RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.04 earnings per share. RXO's quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rxo Inc will post 0.13 earnings per share for the current year.
RXO Profile
(
Free Report)
RXO Inc NYSE: RXO is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.
Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.
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