Analysts Set RXO, Inc. (NYSE:RXO) Target Price at $20.23

RXO, Inc. (NYSE:RXO) has been given a consensus rating of “Reduce” by the twelve analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.27.

Several research firms have commented on RXO. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Friday, April 19th. TD Cowen lifted their target price on shares of RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday. Oppenheimer lowered their target price on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. Susquehanna lifted their target price on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research note on Monday, March 25th. Finally, Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th.

RXO Trading Up 1.4 %

Shares of RXO opened at $20.41 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $20.58 and a 200-day simple moving average of $20.88. RXO has a 1-year low of $16.94 and a 1-year high of $24.33. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -226.78, a price-to-earnings-growth ratio of 7.08 and a beta of 1.24.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. During the same period last year, the company posted $0.11 EPS. The company’s revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that RXO will post 0.22 EPS for the current fiscal year.

Insider Activity

In other RXO news, major shareholder Mfn Partners, Lp bought 5,139 shares of RXO stock in a transaction that occurred on Friday, April 12th. The shares were acquired at an average price of $20.39 per share, for a total transaction of $104,784.21. Following the acquisition, the insider now owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders purchased 1,942,293 shares of company stock valued at $39,332,736 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Douglas Lane & Associates LLC lifted its holdings in shares of RXO by 2.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after acquiring an additional 66,757 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of RXO by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock valued at $38,773,000 after acquiring an additional 23,497 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RXO by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after acquiring an additional 93,885 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of RXO by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock valued at $42,415,000 after acquiring an additional 141,056 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of RXO by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock valued at $41,345,000 after acquiring an additional 138,365 shares in the last quarter. Institutional investors and hedge funds 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.