RXO (NYSE:RXO) Cut to Neutral at Citigroup

RXO (NYSE:RXO) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $33.00 target price on the stock. Citigroup’s price objective would suggest a potential upside of 18.53% from the stock’s previous close.

Several other brokerages have also recently weighed in on RXO. Wells Fargo & Company restated an “equal weight” rating and issued a $31.00 price target on shares of RXO in a research report on Monday. Jefferies Financial Group reduced their target price on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Susquehanna lowered their price target on shares of RXO from $20.00 to $16.00 and set a “negative” rating for the company in a report on Thursday, September 26th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.29.

RXO Stock Up 0.1 %

Shares of RXO stock opened at $27.84 on Tuesday. The stock has a market cap of $4.48 billion, a P/E ratio of -14.06, a PEG ratio of 13.01 and a beta of 1.33. The company’s fifty day simple moving average is $27.84 and its two-hundred day simple moving average is $25.98. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO has a 52 week low of $18.75 and a 52 week high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Analysts predict that RXO will post 0.14 EPS for the current fiscal year.

Institutional Trading of RXO

Large investors have recently made changes to their positions in the stock. Swedbank AB bought a new stake in RXO during the 1st quarter valued at about $76,982,000. MFN Partners Management LP increased its position in shares of RXO by 19.8% during the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock worth $340,922,000 after acquiring an additional 2,580,330 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after acquiring an additional 1,523,650 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of RXO in the third quarter valued at approximately $27,964,000. Finally, Driehaus Capital Management LLC bought a new position in RXO in the second quarter worth approximately $19,965,000. 92.73% of the stock is 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.