RXO (NYSE:RXO) Shares Up 6.1% - Here's Why

Key Points

• RXO shares increased by 6.1% during trading, reaching a price of $15.79, despite an 88% decline in trading volume compared to average sessions.
• Analysts have mixed opinions on RXO, with three recommending a Buy, twelve a Hold, and one a Sell, resulting in a consensus target price of $17.93.
• In the last earnings report, RXO beat earnings estimates with $0.04 EPS and a revenue growth of 52.6% year-over-year, although it fell slightly short of revenue estimates.

Rxo Inc (NYSE:RXO - Get Free Report) rose 6.1% on Tuesday . The company traded as high as $15.57 and last traded at $15.79. Approximately 197,400 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,615,804 shares. The stock had previously closed at $14.88.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen raised RXO from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company reduced their target price on RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group reduced their target price on RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Susquehanna set a $12.00 target price on RXO and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Cowen reissued 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 issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.93.

RXO Stock Up 15.0%

The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $15.93 and a 200-day moving average price of $16.60. The firm has a market capitalization of $2.77 billion, a PE ratio of -7.83, a price-to-earnings-growth ratio of 8.07 and a beta of 1.68.

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. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The business's revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of large investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd grew its position in shares of RXO by 3.8% in the second quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company's stock valued at $493,218,000 after purchasing an additional 1,142,710 shares in the last quarter. Wellington Management Group LLP grew its position in RXO by 374.1% in the first 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. State Street Corp grew its position in RXO by 1.5% in the second quarter. State Street Corp now owns 5,821,207 shares of the company's stock worth $91,509,000 after acquiring an additional 85,405 shares during the period. Douglas Lane & Associates LLC grew its position in RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company's stock worth $58,789,000 after acquiring an additional 148,738 shares during the period. Finally, Geode Capital Management LLC grew its position in RXO by 4.0% in the second quarter. Geode Capital Management LLC now owns 3,611,478 shares of the company's stock worth $56,780,000 after acquiring an additional 139,999 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Company Profile

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.