Citigroup Lowers RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its price objective decreased by investment analysts at Citigroup from $23.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 0.20% from the stock’s previous close.

Several other equities analysts have also recently commented on RXO. Barclays dropped their target price on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their price target on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer lowered shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus target price of $23.60.

RXO Price Performance

Shares of NYSE:RXO opened at $14.97 on Tuesday. The firm has a 50 day moving average of $19.28 and a 200-day moving average of $24.48. The stock has a market capitalization of $2.45 billion, a PE ratio of -7.06, a PEG ratio of 4.55 and a beta of 1.60. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO has a 12 month low of $12.39 and a 12 month high of $32.82.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities research analysts predict that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after purchasing an additional 2,009,937 shares during the last quarter. FIL Ltd boosted its stake in shares of RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after purchasing an additional 596,158 shares during the last quarter. State Street Corp boosted its stake in shares of RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of RXO by 34.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock valued at $68,589,000 after purchasing an additional 916,379 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of RXO by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after purchasing an additional 307,492 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

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.