RXO (NYSE:RXO) Price Target Lowered to $21.00 at Morgan Stanley

RXO (NYSE:RXO - Free Report) had its price objective reduced by Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup restated a "neutral" rating and issued a $18.00 price objective (up from $15.00) on shares of RXO in a report on Wednesday, May 21st. UBS Group lowered their price objective on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Truist Financial lowered their price target on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, RXO currently has a consensus rating of "Hold" and an average price target of $19.67.

RXO Price Performance

RXO stock traded down $0.65 during mid-day trading on Monday, hitting $16.17. 1,710,644 shares of the company traded hands, compared to its average volume of 1,351,238. RXO has a one year low of $12.19 and a one year high of $32.82. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -7.45, a price-to-earnings-growth ratio of 7.70 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. The stock has a fifty day moving average price of $15.64 and a 200-day moving average price of $18.68.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after purchasing an additional 868 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of RXO in the 1st quarter worth about $30,000. Larson Financial Group LLC grew its position in shares of RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock worth $33,000 after buying an additional 1,632 shares during the period. CWM LLC grew its position in shares of RXO by 234.4% in the 1st quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after buying an additional 1,315 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in RXO by 52.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after purchasing an additional 945 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.