RXO (NYSE:RXO) Trading 13.2% Higher - What's Next?

Shares of RXO, Inc. (NYSE:RXO - Get Free Report) traded up 13.2% during mid-day trading on Monday . The company traded as high as $16.52 and last traded at $16.38. 1,718,238 shares traded hands during trading, an increase of 42% from the average session volume of 1,207,204 shares. The stock had previously closed at $14.47.

Analyst Upgrades and Downgrades

RXO has been the subject of a number of research reports. Jefferies Financial Group lowered their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a research report on Friday, March 7th. They set a "hold" rating and a $19.00 target price on the stock. Benchmark reissued a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Citigroup reduced their price objective on shares of RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Susquehanna decreased their price objective on RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, RXO presently has an average rating of "Hold" and an average target price of $19.93.

RXO Trading Up 12.0%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -7.65, a P/E/G ratio of 4.55 and a beta of 1.71. The business has a 50-day simple moving average of $16.00 and a two-hundred day simple moving average of $22.22.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The company's quarterly revenue was up 57.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. As a group, research analysts forecast that RXO, Inc. will post 0.31 EPS for the current year.

Institutional Trading of RXO

A number of large investors have recently added to or reduced their stakes in RXO. Raymond James Financial Inc. bought a new stake in shares of RXO in the 4th quarter valued at about $1,588,000. Charles Schwab Investment Management Inc. raised its stake in RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock valued at $51,138,000 after buying an additional 76,653 shares during the period. JPMorgan Chase & Co. lifted its position in shares of RXO by 111.5% in the fourth quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company's stock valued at $13,715,000 after buying an additional 303,224 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of RXO in the fourth quarter valued at approximately $2,004,000. Finally, Victory Capital Management Inc. boosted its stake in shares of RXO by 11.6% during the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company's stock worth $20,248,000 after acquiring an additional 88,110 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

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.