RXO (NYSE:RXO) Raised to Strong-Buy at Zacks Research

RXO (NYSE:RXO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Other analysts have also issued research reports about the stock. Citigroup lowered shares of RXO from a “neutral” rating to a “market perform” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised shares of RXO from an “underweight” rating to a “neutral” rating and upped their target price for the company from $22.00 to $30.00 in a research report on Tuesday, October 6th. BMO Capital Markets downgraded shares of RXO from an “outperform” rating to a “hold” rating and set a $30.25 target price for the company. in a report on Tuesday, October 6th. Truist Financial lifted their price objective on RXO from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company raised their target price on RXO from $23.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus price target of $26.08.

RXO Stock Up 0.8%

NYSE RXO opened at $28.71 on Monday. RXO has a one year low of $10.43 and a one year high of $29.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.27 and a current ratio of 1.27. The business has a fifty day moving average price of $22.81 and a 200 day moving average price of $23.07. The company has a market cap of $4.74 billion, a P/E ratio of -47.07 and a beta of 2.10.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.63 billion. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. RXO’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. Research analysts anticipate that RXO will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of RXO by 18.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,196 shares of the company’s stock valued at $61,000 after purchasing an additional 649 shares during the last quarter. City Holding Co. grew its position in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock worth $34,000 after purchasing an additional 865 shares during the last quarter. GAMMA Investing LLC grew its position in RXO by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 9,650 shares of the company’s stock worth $266,000 after purchasing an additional 996 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of RXO by 5.0% in the first quarter. Citizens Financial Group Inc. RI now owns 24,583 shares of the company’s stock valued at $359,000 after buying an additional 1,165 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of RXO during the first quarter worth about $29,000. 92.73% of the stock is owned by institutional investors and hedge funds.

About RXO

RXO, Inc is a transportation and logistics company that connects shippers with motor carriers and other transportation providers. The company primarily operates an asset-light business model, arranging freight transportation rather than owning a large fleet of trucks.

Its services include truckload freight brokerage, managed transportation and last-mile delivery. RXO uses technology and logistics expertise to help businesses source transportation capacity, manage shipments and coordinate deliveries across their supply chains.

RXO serves customers throughout North America, including the United States, Canada and Mexico.