RXO (NYSE:RXO) Given New $20.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised its price target on RXO from $18 to $20 and kept a neutral rating, implying downside from the current share price.
• RXO stock traded up 4.3% to $28.23, near its 12-month high of $29.86, after recent analyst updates.
• Analyst sentiment remains mixed overall: the stock has an average Hold rating, with a consensus price target of $23.57 despite several firms recently lifting targets.

RXO (NYSE:RXO - Get Free Report) had its target price increased by equities researchers at The Goldman Sachs Group from $18.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential downside of 29.15% from the stock's current price.

RXO has been the subject of several other reports. Stifel Nicolaus raised their price target on RXO from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America decreased their price target on shares of RXO from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, March 25th. Susquehanna boosted their price target on shares of RXO from $18.00 to $20.00 and gave the stock a "negative" rating in a research note on Tuesday. Citigroup began coverage on RXO in a research report on Wednesday. They set a "market perform" rating on the stock. Finally, BMO Capital Markets started coverage on RXO in a research note on Monday. They issued an "outperform" rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, RXO has an average rating of "Hold" and a consensus price target of $23.57.

RXO Trading Up 4.3%

RXO stock traded up $1.16 during mid-day trading on Thursday, hitting $28.23. 950,518 shares of the company were exchanged, compared to its average volume of 2,292,353. RXO has a 12-month low of $10.43 and a 12-month high of $29.86. The firm has a market capitalization of $4.66 billion, a P/E ratio of -46.23 and a beta of 2.03. The business has a fifty day simple moving average of $25.42 and a 200-day simple moving average of $18.88. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, equities research analysts predict that RXO will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

Large investors have recently modified their holdings of the company. Orbis Allan Gray Ltd grew its stake in shares of RXO by 6.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company's stock worth $438,327,000 after purchasing an additional 2,104,597 shares in the last quarter. Vanguard Group Inc. increased its holdings in RXO by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company's stock valued at $218,796,000 after buying an additional 93,130 shares during the last quarter. Wellington Management Group LLP raised its stake in RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company's stock valued at $153,780,000 after buying an additional 735,810 shares in the last quarter. State Street Corp raised its stake in RXO by 3.7% in the fourth quarter. State Street Corp now owns 6,370,232 shares of the company's stock valued at $80,520,000 after buying an additional 230,053 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in RXO by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company's stock worth $49,008,000 after buying an additional 18,110 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting RXO

Here are the key news stories impacting RXO this week:

• Positive Sentiment: BMO Capital Markets initiated coverage on RXO with an Outperform rating and a $35 price target, suggesting meaningful upside potential. BMO initiates coverage on RXO
• Positive Sentiment: Truist Financial raised its price target on RXO from $26 to $30 and kept a Buy rating, reinforcing the bullish analyst view. Truist raises RXO price target
• Positive Sentiment: RXO was linked to a new freight-security/Highway-related development that attracted market attention, which may be adding to investor interest in the stock. Freight security move gains market attention
• Neutral Sentiment: Citizens JMP initiated coverage with a Market Perform rating, which is supportive from a coverage standpoint but less bullish than other recent analyst calls. Citizens JMP initiates coverage on RXO
• Neutral Sentiment: Susquehanna also lifted its price target on RXO to $20, though the target remains below the current trading level, making the signal mixed. Susquehanna raises RXO price target

RXO Company Profile

RXO Inc NYSE: RXO is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.

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