The Goldman Sachs Group Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its target price dropped by equities researchers at The Goldman Sachs Group from $21.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 24.22% from the stock’s previous close.

Several other research firms have also commented on RXO. Morgan Stanley dropped their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 price target for the company. Truist Financial dropped their price objective on RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their target price on RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.93.

RXO Stock Performance

NYSE RXO opened at $14.49 on Thursday. The firm has a market capitalization of $2.38 billion, a P/E ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71. The stock has a 50-day simple moving average of $16.00 and a two-hundred day simple moving average of $22.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. RXO has a fifty-two week low of $12.19 and a fifty-two week high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue was up 57.0% compared to the same quarter last year. On average, equities analysts forecast that RXO will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently added to or reduced their stakes in RXO. Blue Trust Inc. increased its stake in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after acquiring an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of RXO in the third quarter valued at about $28,000. Smartleaf Asset Management LLC increased its position in RXO by 228.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after purchasing an additional 868 shares during the last quarter. Larson Financial Group LLC raised its stake in RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,632 shares during the period. Finally, CWM LLC boosted its holdings in RXO by 234.4% in the 1st 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. Hedge funds and other institutional investors 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.