RXO (NYSE:RXO) Price Target Raised to $30.00 at Truist Financial

Key Points

• Truist Financial raised RXO’s price target from $26 to $30 and kept a buy rating on the stock, implying about 6.9% upside from the current price.
• RXO has seen mixed Wall Street sentiment overall: recent updates from UBS, TD Cowen, Stephens, Citizens JMP, and Citigroup leave the stock with an average Hold rating and a consensus price target of $23.43.
• The stock was up 3.6% to $28.07, near its 52-week high, after the company reported quarterly earnings that matched EPS expectations and beat revenue estimates.

RXO (NYSE:RXO - Get Free Report) had its target price increased by Truist Financial from $26.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 6.86% from the company's current price.

RXO has been the subject of several other reports. UBS Group increased their price objective on RXO from $22.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Citizens Jmp began coverage on shares of RXO in a research note on Wednesday. They issued a "market perform" rating on the stock. TD Cowen upped their price objective on shares of RXO from $14.00 to $21.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Citigroup started coverage on shares of RXO in a research note on Wednesday. They issued a "market perform" rating for the company. Finally, Stephens raised shares of RXO to a "hold" rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $23.43.

RXO Stock Up 3.6%

RXO opened at $28.07 on Wednesday. RXO has a one year low of $10.43 and a one year high of $29.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $4.63 billion, a P/E ratio of -46.02 and a beta of 2.03. The business's 50-day simple moving average is $25.27 and its 200-day simple moving average is $18.78.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. City Holding Co. raised its position in RXO by 227.6% during the second quarter. City Holding Co. now owns 1,245 shares of the company's stock worth $34,000 after acquiring an additional 865 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in RXO in the 1st quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RXO during the 1st quarter worth about $29,000. Flagship Harbor Advisors LLC acquired a new stake in shares of RXO during the 4th quarter worth about $25,000. Finally, Quarry LP purchased a new stake in shares of RXO during the third quarter worth about $33,000. 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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