RXO (NYSE:RXO) Now Covered by Citizens Jmp

Key Points

• Citizens Jmp initiated coverage on RXO with a “market perform” rating, adding to a mixed analyst outlook on the stock.
• Other firms have recently adjusted their views, including UBS and Truist raising price targets to $26, while the overall consensus remains Hold with a target price of $23.14.
• RXO shares were up 3.6% and traded around $28.07, after the company reported quarterly earnings and revenue that came in at or above expectations in its latest results.

Investment analysts at Citizens Jmp started coverage on shares of RXO (NYSE:RXO - Get Free Report) in a report issued on Wednesday. The firm set a "market perform" rating on the stock.

A number of other analysts have also issued reports on the stock. UBS Group lifted their price objective on shares of RXO from $22.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of RXO from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $18.00 price target on shares of RXO in a research note on Friday, May 8th. Truist Financial boosted their price objective on shares of RXO from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Zacks Research raised shares of RXO from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, RXO presently has a consensus rating of "Hold" and a consensus target price of $23.14.

RXO Stock Up 3.6%

RXO opened at $28.07 on Wednesday. The company has a market cap of $4.63 billion, a PE ratio of -46.02 and a beta of 2.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. RXO has a 1 year low of $10.43 and a 1 year high of $29.86. The firm has a 50 day moving average price of $25.27 and a 200 day moving average price of $18.78.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the company earned ($0.03) EPS. The firm's revenue was down .6% on a year-over-year basis. Sell-side analysts expect that RXO will post 0.08 earnings per share for the current year.

Institutional Trading of RXO

Institutional investors and hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd grew its holdings 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 valued at $438,327,000 after purchasing an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. grew its stake in RXO by 91.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company's stock worth $35,818,000 after buying an additional 1,110,530 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in RXO during the 4th quarter worth $11,224,000. Wellington Management Group LLP increased its position in RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company's stock worth $153,780,000 after buying an additional 735,810 shares during the period. Finally, Kennedy Capital Management LLC bought a new stake in RXO in the fourth quarter valued at $9,098,000. Institutional investors and hedge funds own 92.73% of the company's stock.

About RXO

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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