RXO (NYSE:RXO) Upgraded by Wall Street Zen to Hold Rating

Key Points

• RXO has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, reflecting a shift in investor sentiment.
• Several prominent investment firms have updated their price targets for RXO, with Bank of America raising it to $18.00 and UBS Group reaffirming a "neutral" rating at $15.00.
• RXO's earnings report revealed a significant year-over-year revenue increase of 52.6%, with reported earnings per share surpassing analyst expectations.

Wall Street Zen upgraded shares of RXO (NYSE:RXO - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

RXO has been the subject of several other reports. 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. Citigroup reaffirmed a "neutral" rating and set a $18.00 price objective (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. Cowen reaffirmed a "hold" rating on shares of RXO in a research report on Friday. Wells Fargo & Company reduced their price target on RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Finally, Bank of America increased their price target on RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, RXO currently has a consensus rating of "Hold" and an average price target of $17.93.

RXO Trading Up 6.1%

Shares of RXO stock traded up $0.88 during trading hours on Friday, hitting $15.13. The company's stock had a trading volume of 1,277,442 shares, compared to its average volume of 1,616,976. RXO has a 12 month low of $12.19 and a 12 month high of $31.98. The stock has a 50 day moving average of $16.07 and a 200 day moving average of $17.17. The company has a market capitalization of $2.48 billion, a PE ratio of -7.00, a price-to-earnings-growth ratio of 7.73 and a beta of 1.68. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The company 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 company's revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. Analysts predict that RXO will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently modified their holdings of RXO. AlphaQuest LLC bought a new position in shares of RXO in the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. acquired a new stake in shares of RXO during the 1st quarter valued at $30,000. Larson Financial Group LLC boosted its holdings in shares of RXO by 1,990.2% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after acquiring an additional 1,632 shares in the last quarter. CWM LLC boosted its holdings in shares of RXO by 234.4% during the 1st quarter. CWM LLC now owns 1,876 shares of the company's stock valued at $36,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of RXO by 52.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after acquiring an additional 945 shares in the last quarter. Institutional investors 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.