RXO (NYSE:RXO) Hits New 52-Week High – Still a Buy?

Rxo Inc (NYSE:RXO) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $25.20 and last traded at $24.86, with a volume of 74227 shares trading hands. The stock had previously closed at $24.37.

Wall Street Analyst Weigh In

RXO has been the topic of a number of research analyst reports. Stephens set a $15.00 target price on RXO in a research note on Monday, February 9th. Truist Financial increased their price target on shares of RXO from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Bank of America reduced their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus upgraded shares of RXO from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Friday, May 15th. Finally, Zacks Research upgraded shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.08.

RXO Stock Up 2.9%

The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $15.32. The stock has a market capitalization of $4.13 billion, a P/E ratio of -41.10, a PEG ratio of 25.87 and a beta of 1.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business earned ($0.03) earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Rxo Inc will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RXO. Finepoint Capital LP bought a new position in shares of RXO in the third quarter worth approximately $111,764,000. Orbis Allan Gray Ltd grew its stake in shares of RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after purchasing an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of RXO by 91.2% in the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after purchasing an additional 1,110,530 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of RXO in the fourth quarter worth about $11,224,000. Finally, Wellington Management Group LLP grew its stake 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 worth $153,780,000 after purchasing an additional 735,810 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.