RXO (NYSE:RXO) Stock Price Down 4.9% – Here’s What Happened

Shares of Rxo Inc (NYSE:RXO) fell 4.9% during trading on Wednesday . The stock traded as low as $25.97 and last traded at $25.8650. 82,651 shares changed hands during trading, a decline of 97% from the average session volume of 2,380,426 shares. The stock had previously closed at $27.21.

Analyst Ratings Changes

A number of research firms have commented on RXO. UBS Group raised their price target on RXO from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 price objective (up from $19.00) on shares of RXO in a research note on Thursday, May 7th. Stifel Nicolaus raised RXO from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Friday, May 15th. Weiss Ratings raised RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Finally, Susquehanna upped their price objective on RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, RXO currently has an average rating of “Hold” and an average price target of $20.08.

RXO Price Performance

The firm’s fifty day moving average price is $21.82 and its 200 day moving average price is $17.02. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The stock has a market cap of $4.34 billion, a PE ratio of -43.10, a P/E/G ratio of 29.42 and a beta of 2.08.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that Rxo Inc will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Finepoint Capital LP bought a new position in shares of RXO in the third quarter worth about $111,764,000. Orbis Allan Gray Ltd grew its holdings 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 holdings 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 position in shares of RXO in the fourth quarter worth about $11,224,000. Finally, Wellington Management Group LLP grew its holdings 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.