Brokerages Set RXO INC (NYSE:RXO) Target Price at $18.87

RXO INC (NYSE:RXO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.87.

A number of analysts recently issued reports on the company. Oppenheimer lowered RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. Stifel Nicolaus decreased their target price on RXO from $24.00 to $14.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Wells Fargo & Company cut their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th.

Institutional Trading of RXO

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in RXO by 3.4% in the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after acquiring an additional 23,160 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of RXO during the fourth quarter worth about $1,588,000. JPMorgan Chase & Co. boosted its stake in shares of RXO by 111.5% during the fourth quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company's stock worth $13,715,000 after buying an additional 303,224 shares during the period. New York State Teachers Retirement System boosted its stake in shares of RXO by 1.8% during the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock worth $2,214,000 after buying an additional 2,000 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of RXO by 1,728.8% during the first quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock worth $707,000 after buying an additional 34,974 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.

RXO Stock Down 0.2%

Shares of NYSE:RXO traded down $0.03 during mid-day trading on Thursday, hitting $17.00. 1,590,881 shares of the company traded hands, compared to its average volume of 1,792,171. The stock has a market cap of $2.79 billion, a P/E ratio of -7.83, a P/E/G ratio of 8.43 and a beta of 1.69. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.24. RXO has a 12-month low of $12.19 and a 12-month high of $32.82. The stock has a 50-day moving average price of $16.12 and a two-hundred day moving average price of $18.09.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 1.18% and a negative net margin of 5.94%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the prior year, the firm posted ($0.03) EPS. The firm's revenue for the quarter was up 57.0% on a year-over-year basis. On average, equities research analysts forecast that RXO will post 0.31 earnings per share for the current year.

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.