Morgan Stanley Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO - Free Report) had its price target trimmed by Morgan Stanley from $23.00 to $21.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on RXO. Oppenheimer downgraded RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Truist Financial decreased their target price on RXO from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Susquehanna set a $12.00 price objective on RXO and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Barclays reduced their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup reiterated a "neutral" rating and issued a $18.00 price objective (up previously from $15.00) on shares of RXO in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $18.87.

RXO Stock Up 4.0%

Shares of RXO traded up $0.69 during trading hours on Monday, hitting $17.91. 2,039,328 shares of the company were exchanged, compared to its average volume of 1,363,010. The firm's 50 day moving average is $15.77 and its 200-day moving average is $18.66. RXO has a 52 week low of $12.19 and a 52 week high of $32.82. The company has a market cap of $2.94 billion, a PE ratio of -8.25, a PEG ratio of 8.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company earned ($0.03) EPS. RXO's revenue for the quarter was up 57.0% compared to the same quarter last year. On average, equities research analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock valued at $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. Wellington Management Group LLP increased its holdings in RXO by 374.1% during the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company's stock valued at $176,855,000 after purchasing an additional 7,306,537 shares in the last quarter. FIL Ltd increased its holdings in RXO by 10.4% during the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after purchasing an additional 596,158 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in RXO by 4.1% during the 2nd quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company's stock valued at $58,789,000 after purchasing an additional 148,738 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in RXO by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company's stock valued at $80,185,000 after purchasing an additional 307,492 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Company Profile

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.