RXO (NYSE:RXO) Stock Price Up 6.1% - Time to Buy?

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) shares traded up 6.1% during trading on Tuesday . The company traded as high as $15.57 and last traded at $15.79. 197,400 shares traded hands during trading, a decline of 88% from the average session volume of 1,615,804 shares. The stock had previously closed at $14.88.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Susquehanna set a $12.00 target price on shares of RXO and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Barclays cut their price target on RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Bank of America lifted 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 price objective on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $15.00 target price (up from $14.00) on shares of RXO in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.93.

RXO Price Performance

The stock has a market capitalization of $2.49 billion, a P/E ratio of -7.05, a PEG ratio of 7.12 and a beta of 1.68. The company's 50 day simple moving average is $15.99 and its two-hundred day simple moving average is $16.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.RXO's revenue was up 52.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities analysts expect that Rxo Inc will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC bought a new stake in RXO during the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. acquired a new position in shares of RXO during the first quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in shares of RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after purchasing an additional 1,632 shares during the last quarter. CWM LLC grew its stake in shares of RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company's stock valued at $36,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RXO by 52.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after purchasing an additional 945 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.