RXO (NYSE:RXO) Shares Down 5.9% - Time to Sell?

Key Points

• The stock price for RXO dropped by 5.9% to $16.43, with trading volume significantly increasing to approximately 2.49 million shares, representing a 49% rise from the average daily volume.
• Research analysts have provided mixed ratings on RXO, with a consensus price target of $16.92, indicating a predominant "Hold" rating among analysts.
• Institutional investors now own 92.73% of RXO's stock, with recent activity including significant share acquisitions by Principal Financial Group and T. Rowe Price.

Rxo Inc (NYSE:RXO - Get Free Report)'s stock price fell 5.9% on Friday . The stock traded as low as $16.44 and last traded at $16.43. Approximately 2,490,299 shares changed hands during trading, an increase of 49% from the average session volume of 1,669,527 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

RXO has been the subject of several research reports. Wall Street Zen upgraded shares of RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna set a $12.00 price target on RXO and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. UBS Group reiterated a "neutral" rating and set a $15.00 price target (up previously from $14.00) on shares of RXO in a research note on Friday, August 8th. Morgan Stanley reduced their price objective on RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Finally, Cowen reiterated a "hold" rating on shares of RXO in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, RXO has a consensus rating of "Hold" and a consensus price target of $16.92.

RXO Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35. The firm's 50 day moving average is $16.08 and its 200-day moving average is $15.98. The company has a market cap of $2.70 billion, a PE ratio of -7.63, a PEG ratio of 7.70 and a beta of 1.69.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $0.03 earnings per share. The business's revenue was up 52.6% compared to the same quarter last year. On average, research analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RXO

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in RXO by 3.4% in the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after buying an additional 23,160 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of RXO by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock worth $2,214,000 after acquiring an additional 2,000 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of RXO by 87.1% during the 1st quarter. Intech Investment Management LLC now owns 94,527 shares of the company's stock worth $1,805,000 after purchasing an additional 44,001 shares during the period. GAMMA Investing LLC increased its holdings in RXO by 1,728.8% in the 1st quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock valued at $707,000 after purchasing an additional 34,974 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in RXO in the first quarter valued at approximately $56,693,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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.