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 investment analysts at Barclays from $18.00 to $17.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 13.41% from the stock's current price.

A number of other brokerages have also recently commented on RXO. Citigroup reiterated a "neutral" rating and set a $18.00 price target (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. Bank of America raised their price target on RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. cut their price target on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, July 8th. Morgan Stanley lowered their price objective 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. Finally, UBS Group reaffirmed a "neutral" rating and set a $15.00 price objective (up from $14.00) on shares of RXO in a research report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, RXO has a consensus rating of "Hold" and a consensus price target of $17.93.

RXO Stock Down 0.5%

Shares of RXO stock traded down $0.08 during trading on Tuesday, reaching $14.99. 1,332,738 shares of the company traded hands, compared to its average volume of 1,822,615. 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 has a 1-year low of $12.19 and a 1-year high of $31.98. The company has a 50 day moving average price of $16.01 and a 200-day moving average price of $16.98. The firm has a market capitalization of $2.46 billion, a PE ratio of -6.94, a P/E/G ratio of 7.17 and a beta of 1.68.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates 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%. RXO's quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, equities research analysts expect that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of RXO by 46.6% in the 4th quarter. Wells Fargo & Company MN now owns 97,448 shares of the company's stock worth $2,323,000 after acquiring an additional 30,993 shares during the period. Bank of Montreal Can lifted its position in RXO by 18.5% during the fourth quarter. Bank of Montreal Can now owns 22,454 shares of the company's stock worth $535,000 after buying an additional 3,505 shares during the period. Invesco Ltd. lifted its position in RXO by 11.8% during the fourth quarter. Invesco Ltd. now owns 634,503 shares of the company's stock worth $15,127,000 after buying an additional 66,832 shares during the period. Renaissance Technologies LLC boosted its holdings in RXO by 117.2% in the fourth quarter. Renaissance Technologies LLC now owns 316,400 shares of the company's stock valued at $7,543,000 after acquiring an additional 170,700 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in RXO in the fourth quarter valued at $1,588,000. 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.