RXO (NYSE:RXO) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of RXO (NYSE:RXO) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat Ratings reports. Jefferies Financial Group currently has $30.00 price objective on the stock.

A number of other brokerages also recently weighed in on RXO. Stephens raised RXO to a “hold” rating in a research note on Wednesday, July 8th. UBS Group set a $19.00 target price on RXO in a research report on Wednesday, September 23rd. Citigroup increased their price target on RXO from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday. Stifel Nicolaus set a $31.00 price target on shares of RXO in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of RXO in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RXO currently has an average rating of “Hold” and a consensus price target of $26.08.

RXO Trading Up 1.9%

Shares of NYSE:RXO opened at $28.91 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $4.77 billion, a PE ratio of -47.40 and a beta of 2.10. RXO has a 1 year low of $10.43 and a 1 year high of $29.90. The firm has a fifty day moving average price of $21.58 and a 200 day moving average price of $22.25.

RXO (NYSE:RXO) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.04 earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. Analysts expect that RXO will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

Several hedge funds have recently modified their holdings of the business. Maple Rock Capital Partners Inc. acquired a new stake in shares of RXO in the second quarter worth $71,283,000. Dimensional Fund Advisors LP boosted its holdings in RXO by 32.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,048,903 shares of the company’s stock valued at $29,949,000 after purchasing an additional 504,955 shares during the period. Principal Financial Group Inc. boosted its holdings in RXO by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 798,285 shares of the company’s stock valued at $11,671,000 after purchasing an additional 16,029 shares during the period. Bank of America Corp DE grew its position in RXO by 128.6% in the 1st quarter. Bank of America Corp DE now owns 724,060 shares of the company’s stock worth $10,586,000 after purchasing an additional 407,285 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in RXO in the 4th quarter worth $9,098,000. 92.73% of the stock is owned by institutional investors.

RXO Company Profile

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.