Douglas Lane & Associates LLC Raises Holdings in Rxo Inc $RXO

Key Points

• Douglas Lane & Associates LLC increased its stake in RXO Inc by 4.1% in the second quarter, totaling approximately $58.79 million or 2.28% of the company shares.
• Multiple brokerages have recently adjusted their ratings on RXO, with a consensus price target of $17.93 and a predominant rating of "Hold" among analysts.
• RXO reported a quarterly earnings per share of $0.04, exceeding expectations, while its revenue experienced a year-over-year increase of 52.6%.

Douglas Lane & Associates LLC lifted its stake in shares of Rxo Inc (NYSE:RXO - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,739,778 shares of the company's stock after buying an additional 148,738 shares during the quarter. Douglas Lane & Associates LLC owned approximately 2.28% of RXO worth $58,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in shares of RXO in the first quarter valued at $30,000. Larson Financial Group LLC boosted its stake in RXO by 1,990.2% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after buying an additional 1,632 shares in the last quarter. CWM LLC lifted its stake in shares of RXO by 234.4% in the first quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after acquiring an additional 1,315 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RXO by 52.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after acquiring an additional 945 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in RXO in the first quarter worth $97,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday, July 8th. Wall Street Zen raised RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Cowen restated a "hold" rating on shares of RXO in a research note on Friday, August 8th. Susquehanna set a $12.00 price objective on RXO and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Finally, Barclays cut their price objective on RXO from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.92.

RXO Price Performance

Shares of RXO stock traded down $0.70 during trading on Friday, hitting $16.75. The company had a trading volume of 1,017,472 shares, compared to its average volume of 1,662,449. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -7.83, a price-to-earnings-growth ratio of 8.07 and a beta of 1.69. Rxo Inc has a 52 week low of $12.19 and a 52 week high of $31.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock's 50-day moving average is $16.10 and its two-hundred day moving average is $16.09.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $0.03 earnings per share. The firm's revenue was up 52.6% on a year-over-year basis. As a group, analysts predict that Rxo Inc will post 0.31 EPS for the current fiscal year.

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.