Rxo Inc (NYSE:RXO) Stock Has Average Price Target of $23.91

Shares of Rxo Inc (NYSE:RXO) have earned an average rating of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.62.

RXO has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “positive” rating on shares of RXO in a report on Thursday, September 10th. Susquehanna raised RXO from a “negative” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $19.00 in a report on Wednesday, September 23rd. Truist Financial reduced their target price on shares of RXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group upped their price target on shares of RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets assumed coverage on shares of RXO in a research report on Monday, July 13th. They set an “outperform” rating and a $35.00 price target on the stock.

Hedge Funds Weigh In On RXO

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in RXO in the 2nd quarter valued at $450,000. Integrated Wealth Concepts LLC bought a new stake in shares of RXO during the 2nd quarter valued at $133,000. Nykredit A S acquired a new stake in shares of RXO during the 2nd quarter worth $67,000. Corient Private Wealth LP grew its holdings in shares of RXO by 18.0% during the 2nd quarter. Corient Private Wealth LP now owns 29,773 shares of the company’s stock worth $821,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of RXO in the second quarter worth $71,283,000. Institutional investors own 92.73% of the company’s stock.

RXO Trading Up 1.7%

Shares of RXO stock opened at $20.13 on Tuesday. The firm has a 50 day moving average price of $21.60 and a two-hundred day moving average price of $21.56. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.32 billion, a PE ratio of -32.99 and a beta of 2.10. RXO has a 12-month low of $10.43 and a 12-month high of $29.90.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.63 billion. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, analysts predict that RXO will post 0.14 earnings per share for the current year.

About RXO

RXO Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. Its platform connects shippers with third-party carriers, helping businesses arrange the movement of truckload, less-than-truckload, expedited and other freight. The company also provides managed transportation services, including shipment planning, carrier sourcing, tracking and logistics coordination.

RXO primarily serves customers across North America, supporting freight movements in the United States, Canada and Mexico.