RXO (NYSE:RXO) Shares Gap Down - What's Next?

Rxo Inc (NYSE:RXO - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $16.82, but opened at $16.10. RXO shares last traded at $16.87, with a volume of 146,270 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on RXO. JPMorgan Chase & Co. lowered their price target on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday. Barclays lowered their target price on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley dropped their target price on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Oppenheimer cut RXO from an "outperform" rating to a "market perform" rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $18.87.

RXO Stock Performance

The stock has a market cap of $2.82 billion, a P/E ratio of -7.93, a price-to-earnings-growth ratio of 7.95 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. The company's 50 day moving average price is $15.70 and its 200-day moving average price is $18.67.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.51 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.94%. The firm's revenue was up 57.0% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Equities analysts forecast that Rxo Inc will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

Several large investors have recently modified their holdings of RXO. Wellington Management Group LLP lifted its stake in RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company's stock valued at $176,855,000 after acquiring an additional 7,306,537 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of RXO in the first quarter valued at $56,693,000. Vanguard Group Inc. boosted its holdings in shares of RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. Norges Bank purchased a new stake in RXO in the 4th quarter worth approximately $28,342,000. Finally, Franklin Resources Inc. boosted its stake in RXO by 122.6% during the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock valued at $39,971,000 after purchasing an additional 923,307 shares during the last quarter. 92.73% of the stock is currently 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.