Brokerages Set RXO INC (NYSE:RXO) Target Price at $18.87

Shares of RXO INC (NYSE:RXO) have earned an average recommendation of “Hold” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.87.

Several analysts recently commented on the stock. Barclays dropped their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. UBS Group dropped their price target on shares of RXO from $24.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group dropped their price target on shares of RXO from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Truist Financial decreased their price objective on shares of RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley decreased their price objective on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th.

RXO Stock Down 2.5%

RXO stock opened at $16.99 on Thursday. The firm has a market cap of $2.79 billion, a PE ratio of -7.83, a P/E/G ratio of 8.62 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s fifty day moving average is $16.13 and its 200 day moving average is $17.88. RXO has a one year low of $12.19 and a one year high of $32.82.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, research analysts forecast that RXO will post 0.31 EPS for the current year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new position in shares of RXO in the first quarter worth about $30,000. Larson Financial Group LLC lifted its stake in shares of RXO by 1,990.2% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after buying an additional 1,632 shares in the last quarter. CWM LLC lifted its stake in shares of RXO by 234.4% in the first quarter. CWM LLC now owns 1,876 shares of the company’s stock worth $36,000 after buying an additional 1,315 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of RXO by 52.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company’s stock worth $52,000 after buying an additional 945 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of RXO in the first quarter worth about $97,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Company Profile

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.