RXO (NYSE:RXO) Shares Up 6.8% After Analyst Upgrade

Key Points

• RXO shares rose 6.8% after Truist Financial raised its price target on the stock from $26 to $30 and kept a buy rating. The stock traded as high as $28.69 during the session.
• Other analysts remain mixed on RXO, with several recent target increases but an overall consensus rating of Hold and an average price target of $23.43.
• RXO’s latest quarterly results beat revenue expectations, with $1.43 billion in revenue versus the expected $1.34 billion, while EPS matched estimates at -$0.09.

Rxo Inc (NYSE:RXO - Get Free Report) rose 6.8% during trading on Thursday after Truist Financial raised their price target on the stock from $26.00 to $30.00. Truist Financial currently has a buy rating on the stock. RXO traded as high as $28.69 and last traded at $28.90. Approximately 261,267 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,287,262 shares. The stock had previously closed at $27.07.

A number of other equities analysts have also weighed in on RXO. The Goldman Sachs Group restated a "neutral" rating and set a $18.00 target price on shares of RXO in a research report on Friday, May 8th. Morgan Stanley reiterated an "equal weight" rating and issued a $22.00 price target (up from $19.00) on shares of RXO in a report on Thursday, May 7th. TD Cowen boosted their price target on shares of RXO from $14.00 to $21.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Barclays increased their price objective on shares of RXO from $20.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company lifted their target price on RXO from $15.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $23.43.

Institutional Investors Weigh In On RXO

A number of hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC purchased a new position in shares of RXO in the 4th quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of RXO during the 1st quarter valued at about $29,000. Geneos Wealth Management Inc. bought a new position in shares of RXO in the 1st quarter valued at about $30,000. Quarry LP bought a new position in shares of RXO in the 3rd quarter valued at about $33,000. Finally, City Holding Co. grew its position in RXO by 227.6% in 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 in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

RXO Stock Up 6.7%

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $25.42 and a two-hundred day simple moving average of $18.88. The company has a market capitalization of $4.76 billion, a P/E ratio of -47.42 and a beta of 2.03.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts' consensus estimates of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the previous year, the business earned ($0.03) EPS. The company's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Rxo Inc will post 0.07 EPS for the current year.

RXO Company Profile

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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