RXO (NYSE:RXO) Trading Down 5.8% Following Analyst Downgrade

RXO, Inc. (NYSE:RXO - Get Free Report)'s stock price was down 5.8% on Friday after Jefferies Financial Group lowered their price target on the stock from $26.00 to $20.00. Jefferies Financial Group currently has a buy rating on the stock. RXO traded as low as $13.26 and last traded at $13.25. Approximately 57,110 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,087,916 shares. The stock had previously closed at $14.07.

RXO has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research note on Friday, March 7th. They set a "hold" rating and a $19.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of RXO from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Oppenheimer lowered RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Citigroup lowered their target price on RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays dropped their price objective on shares of RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $22.73.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RXO. Wilmington Savings Fund Society FSB acquired a new position in shares of RXO in the 3rd quarter valued at $28,000. Blue Trust Inc. grew its position in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after buying an additional 510 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after acquiring an additional 868 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock valued at $43,000 after acquiring an additional 1,445 shares during the period. Finally, KBC Group NV grew its holdings in RXO by 41.2% during the fourth quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after purchasing an additional 1,672 shares during the period. 92.73% of the stock is owned by institutional investors.

RXO Price Performance

The company's 50 day simple moving average is $18.52 and its 200 day simple moving average is $24.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The stock has a market cap of $2.11 billion, a P/E ratio of -6.07, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, equities analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current year.

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.