RXO (NYSE:RXO) Hits New 52-Week High – Should You Buy?

Rxo Inc (NYSE:RXO) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $23.69 and last traded at $23.5460, with a volume of 1257942 shares. The stock had previously closed at $21.13.

Analysts Set New Price Targets

A number of brokerages have issued reports on RXO. Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their price target on RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Susquehanna increased their price target on RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a research report on Friday, May 8th. Finally, Stifel Nicolaus upgraded RXO from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, RXO currently has an average rating of “Hold” and an average target price of $20.08.

RXO Stock Up 10.4%

The business has a fifty day simple moving average of $16.64 and a 200 day simple moving average of $15.13. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -38.42, a PEG ratio of 21.24 and a beta of 1.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO) last announced its earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts forecast that Rxo Inc will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds and other institutional investors have recently made changes to their positions in RXO. Bank of America Corp DE increased its stake in RXO by 128.6% during the first quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock worth $10,586,000 after acquiring an additional 407,285 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of RXO in the first quarter valued at $3,655,000. Amundi grew its stake in shares of RXO by 28.8% in the first quarter. Amundi now owns 17,589 shares of the company’s stock valued at $257,000 after buying an additional 3,938 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of RXO by 28.8% in the first quarter. California State Teachers Retirement System now owns 136,414 shares of the company’s stock valued at $1,994,000 after buying an additional 30,515 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in RXO by 52.4% in the first quarter. Quantinno Capital Management LP now owns 80,187 shares of the company’s stock valued at $1,172,000 after purchasing an additional 27,573 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.