Brokerages Set Rxo Inc (NYSE:RXO) Target Price at $16.69

Shares of Rxo Inc (NYSE:RXO) have earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.6923.

A number of equities research analysts recently issued reports on RXO shares. Morgan Stanley raised shares of RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Tuesday, November 11th. UBS Group dropped their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Wolfe Research upgraded shares of RXO from an “underperform” rating to a “peer perform” rating in a research report on Friday, November 14th. Wall Street Zen lowered shares of RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Stifel Nicolaus lifted their price objective on RXO from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Friday, October 10th.

RXO Price Performance

NYSE:RXO opened at $13.46 on Wednesday. RXO has a 52 week low of $10.43 and a 52 week high of $30.06. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.21 billion, a PE ratio of -31.29 and a beta of 1.74. The stock’s 50-day moving average price is $15.09 and its 200-day moving average price is $15.72.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, equities analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Insider Transactions at RXO

In other news, CEO Andrew M. Wilkerson acquired 7,775 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $12.88 per share, for a total transaction of $100,142.00. Following the acquisition, the chief executive officer owned 7,775 shares of the company’s stock, valued at approximately $100,142. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas A. Szlosek bought 20,308 shares of the stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $12.37 per share, for a total transaction of $251,209.96. Following the purchase, the director owned 36,508 shares in the company, valued at $451,603.96. The trade was a 125.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 40,250 shares of company stock valued at $488,875 over the last ninety days. Insiders own 1.48% of the company’s stock.

Institutional Trading of RXO

Large investors have recently bought and sold shares of the business. Orbis Allan Gray Ltd raised its holdings in RXO by 3.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company’s stock valued at $493,218,000 after acquiring an additional 1,142,710 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RXO by 1.4% in the third quarter. Vanguard Group Inc. now owns 17,216,681 shares of the company’s stock valued at $264,793,000 after purchasing an additional 233,434 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of RXO by 7.9% in the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after purchasing an additional 735,810 shares during the last quarter. Finepoint Capital LP acquired a new stake in shares of RXO in the third quarter valued at approximately $111,764,000. Finally, State Street Corp lifted its position in RXO by 1.5% during the second quarter. State Street Corp now owns 5,821,207 shares of the company’s stock worth $91,509,000 after buying an additional 85,405 shares in 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.