JPMorgan Chase & Co. Issues Positive Forecast for RXO (NYSE:RXO) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for RXO from $15.00 to $16.00, despite maintaining an "underweight" rating, indicating an estimated downside of 11.63% from the current price.
• Other analysts have differing views, with UBS Group increasing its price target to $17.00 and rating RXO as "neutral," while the average target price among analysts is currently $17.23.
• RXO's recent quarterly earnings exceeded expectations, reporting earnings per share of $0.04, compared to analysts' estimates of $0.02, with a significant year-over-year revenue increase of 52.6%.

RXO (NYSE:RXO - Get Free Report) had its price target upped by stock analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 11.63% from the stock's previous close.

Several other equities analysts have also commented on RXO. Wall Street Zen upgraded RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group boosted their price target on RXO from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Cowen reissued a "hold" rating on shares of RXO in a research report on Friday, August 8th. Susquehanna set a $12.00 price target on RXO and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of RXO in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.23.

RXO Price Performance

Shares of NYSE RXO traded up $1.23 during trading on Wednesday, reaching $18.11. The company had a trading volume of 1,492,014 shares, compared to its average volume of 1,704,437. RXO has a twelve month low of $12.19 and a twelve month high of $31.98. The stock has a market capitalization of $2.97 billion, a PE ratio of -8.38, a price-to-earnings-growth ratio of 8.29 and a beta of 1.65. The stock has a 50-day moving average price of $15.90 and a two-hundred day moving average price of $15.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new position in RXO in the first quarter valued at about $30,000. Larson Financial Group LLC raised its stake in RXO by 1,990.2% during 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. AlphaQuest LLC acquired a new stake in RXO during the second quarter valued at approximately $29,000. CWM LLC raised its stake in RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company's stock valued at $36,000 after buying an additional 1,315 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in RXO by 25.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company's stock valued at $54,000 after buying an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

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.

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