Rxo Inc (NYSE:RXO - Get Free Report)'s share price gapped down prior to trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $15.00 to $14.00. The stock had previously closed at $16.82, but opened at $16.10. JPMorgan Chase & Co. currently has an underweight rating on the stock. RXO shares last traded at $16.87, with a volume of 146,270 shares.
Several other analysts also recently weighed in on RXO. Jefferies Financial Group decreased their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Bank of America raised their price objective on RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Truist Financial lowered their target price on RXO from $24.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays cut their price target on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Citigroup reaffirmed a "neutral" rating and issued a $18.00 price objective (up from $15.00) on shares of RXO in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.87.
Check Out Our Latest Stock Analysis on RXO
Hedge Funds Weigh In On RXO
Several hedge funds and other institutional investors have recently modified their holdings of RXO. Vanguard Group Inc. lifted its stake in shares of RXO by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after buying an additional 2,009,937 shares during the period. Wellington Management Group LLP lifted its position in RXO by 374.1% during 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 during the period. FIL Ltd grew its stake in RXO by 10.4% during the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after purchasing an additional 596,158 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company's stock valued at $58,789,000 after purchasing an additional 148,738 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of RXO by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company's stock worth $80,185,000 after purchasing an additional 307,492 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.
RXO Stock Performance
The firm's 50 day simple moving average is $15.77 and its 200 day simple moving average is $18.66. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -8.25, a PEG ratio of 8.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30.
RXO (NYSE:RXO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business's revenue for the quarter was up 57.0% on a year-over-year basis. Sell-side analysts forecast that Rxo Inc will post 0.31 earnings per share for the current fiscal year.
About RXO
(
Get Free Report)
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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