RXO (NYSE:RXO) Price Target Lowered to $17.00 at Barclays

Key Points

• Barclays has lowered its price target for RXO from $18.00 to $17.00, while maintaining an "overweight" rating, indicating a potential upside of 16.81% from the current price.
• Several analysts have expressed varied opinions on RXO, with the consensus rating currently at "Hold" and an average price target of $17.93.
• RXO recently reported a quarterly earnings increase, with $0.04 EPS, surpassing analysts' expectations of $0.02, while the company's revenue saw a year-over-year growth of 52.6%.

RXO (NYSE:RXO - Get Free Report) had its target price cut by equities research analysts at Barclays from $18.00 to $17.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 16.81% from the company's current price.

Other research analysts also recently issued reports about the stock. Susquehanna set a $12.00 price objective on shares of RXO and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of RXO from a "sell" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group reduced their price objective on RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 8th. Finally, Truist Financial dropped their price target on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.93.

RXO Trading Up 2.1%

NYSE RXO opened at $14.55 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The firm's 50-day moving average is $16.07 and its two-hundred day moving average is $17.17. RXO has a 12 month low of $12.19 and a 12 month high of $31.98. The stock has a market capitalization of $2.39 billion, a P/E ratio of -6.74, a PEG ratio of 7.73 and a beta of 1.68.

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

Institutional Investors Weigh In On RXO

A number of institutional investors have recently modified their holdings of RXO. Wellington Management Group LLP grew its position in shares of RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company's stock worth $176,855,000 after acquiring an additional 7,306,537 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in RXO by 4.1% during the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company's stock worth $58,789,000 after purchasing an additional 148,738 shares during the last quarter. Geode Capital Management LLC increased its stake in RXO by 4.0% during the second quarter. Geode Capital Management LLC now owns 3,611,478 shares of the company's stock valued at $56,780,000 after purchasing an additional 139,999 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in RXO during the first quarter valued at $56,693,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of RXO by 15.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company's stock worth $52,155,000 after purchasing an additional 355,255 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

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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