RXO (NYSE:RXO) Price Target Lowered to $15.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has lowered its price target for RXO from $17.00 to $15.00, indicating a potential downside of 15.23% from the previous close.
• Various brokerage firms have issued mixed ratings and price targets for RXO, with an average target price of $17.00 and the majority rating it as "Hold".
• RXO reported a quarterly earnings beat with revenue of $1.42 billion, although it fell short of analyst estimates, reflecting a 52.6% increase year over year.

RXO (NYSE:RXO - Get Free Report) had its target price lowered by equities research analysts at The Goldman Sachs Group from $17.00 to $15.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential downside of 15.23% from the company's previous close.

Several other brokerages have also weighed in on RXO. Susquehanna set a $12.00 target price on shares of RXO and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group lifted their price target on RXO from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of RXO in a research note on Wednesday. Barclays decreased their price target on RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Finally, Morgan Stanley dropped their target price on RXO from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.00.

RXO Trading Down 2.5%

Shares of RXO stock traded down $0.46 during trading on Thursday, hitting $17.70. The stock had a trading volume of 837,839 shares, compared to its average volume of 1,703,027. RXO has a 12 month low of $12.19 and a 12 month high of $31.98. The firm's fifty day simple moving average is $15.96 and its 200-day simple moving average is $15.80. The stock has a market cap of $2.90 billion, a PE ratio of -8.18, a PEG ratio of 8.19 and a beta of 1.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The company's quarterly revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, sell-side analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in RXO by 101.6% in the second quarter. Osaic Holdings Inc. now owns 8,507 shares of the company's stock valued at $134,000 after acquiring an additional 4,287 shares during the period. Squarepoint Ops LLC raised its holdings in RXO by 304.8% during the second quarter. Squarepoint Ops LLC now owns 171,620 shares of the company's stock worth $2,698,000 after acquiring an additional 129,228 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in RXO by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 104,861 shares of the company's stock worth $1,648,000 after acquiring an additional 1,007 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in RXO during the second quarter worth about $170,000. Finally, Public Sector Pension Investment Board raised its stake in RXO by 8.4% in the second quarter. Public Sector Pension Investment Board now owns 486,138 shares of the company's stock valued at $7,642,000 after buying an additional 37,795 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

About RXO

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.

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