RXO (NYSE:RXO) Stock Price Down 7.1% – What’s Next?

Rxo Inc (NYSE:RXO) shares dropped 7.1% during trading on Monday . The stock traded as low as $20.96 and last traded at $20.93. Approximately 751,988 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,247,130 shares. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RXO shares. Barclays increased their price objective on shares of RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. The Goldman Sachs Group boosted their target price on shares of RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Susquehanna upped their price target on shares of RXO from $18.00 to $20.00 and gave the stock a “negative” rating in a research report on Tuesday, July 14th. Wells Fargo & Company increased their price target on shares of RXO from $15.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, UBS Group decreased their price target on shares of RXO from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.85.

RXO Stock Up 1.8%

The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -35.53 and a beta of 2.10. The firm has a 50-day moving average of $24.79 and a 200 day moving average of $20.72. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.63 billion. RXO had a negative return on equity of 0.98% and a negative net margin of 1.72%.RXO’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. On average, sell-side analysts anticipate that Rxo Inc will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of RXO by 2,204.2% during the second quarter. California State Teachers Retirement System now owns 3,143,301 shares of the company’s stock valued at $86,724,000 after acquiring an additional 3,006,887 shares during the period. Nykredit A S acquired a new position in shares of RXO during the 2nd quarter valued at $67,000. Maple Rock Capital Partners Inc. bought a new stake in shares of RXO in the 2nd quarter worth $71,283,000. Archer Investment Corp acquired a new stake in shares of RXO in the second quarter valued at $450,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of RXO in the second quarter valued at $119,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Company Profile

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.