RXO (NYSE:RXO) Price Target Raised to $20.00 at TD Cowen

RXO (NYSE:RXO - Free Report) had its price objective boosted by TD Cowen from $19.00 to $20.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. TD Cowen currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the company. Vertical Research downgraded RXO from a buy rating to a hold rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their price target on RXO from $20.00 to $22.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Oppenheimer dropped their price objective on RXO from $23.00 to $22.00 and set an outperform rating on the stock in a report on Tuesday, February 13th. Susquehanna raised their target price on RXO from $15.00 to $16.00 and gave the stock a negative rating in a research report on Monday, March 25th. Finally, Bank of America downgraded RXO from a buy rating to a neutral rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $20.27.

RXO Trading Up 1.4 %

Shares of NYSE:RXO traded up $0.29 during midday trading on Friday, reaching $20.41. 541,494 shares of the company's stock were exchanged, compared to its average volume of 659,802. The firm's 50 day simple moving average is $20.61 and its two-hundred day simple moving average is $20.87. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 510.38, a P/E/G ratio of 6.69 and a beta of 1.24.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that RXO will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at RXO

In other news, major shareholder Mfn Partners, Lp purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average cost of $19.44 per share, with a total value of $1,944,000.00. Following the completion of the acquisition, the insider now directly owns 17,075,369 shares of the company's stock, valued at approximately $331,945,173.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have purchased 1,942,293 shares of company stock worth $39,332,736. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently bought and sold shares of RXO. Norges Bank purchased a new stake in RXO during the 4th quarter worth $24,250,000. Jacobs Levy Equity Management Inc. grew its stake in RXO by 290.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company's stock worth $17,142,000 after purchasing an additional 646,540 shares in the last quarter. Intrinsic Edge Capital Management LLC raised its stake in RXO by 325.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company's stock valued at $18,551,000 after buying an additional 610,166 shares in the last quarter. 683 Capital Management LLC raised its stake in RXO by 154.9% during the third quarter. 683 Capital Management LLC now owns 650,000 shares of the company's stock valued at $12,824,000 after buying an additional 395,000 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in RXO by 10.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company's stock valued at $59,997,000 after purchasing an additional 248,883 shares during the period. 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.