RXO (NYSE:RXO) Upgraded at BMO Capital Markets

RXO (NYSE:RXO) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Bank of America reduced their target price on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. 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 report on Friday, May 8th. Barclays raised their price objective on shares of RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. UBS Group boosted their price objective on shares of RXO from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company increased their target price on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.14.

RXO Stock Up 3.6%

RXO opened at $28.07 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50 day simple moving average of $25.27 and a 200-day simple moving average of $18.78. The stock has a market capitalization of $4.63 billion, a P/E ratio of -46.02 and a beta of 2.03. RXO has a 12 month low of $10.43 and a 12 month high of $29.86.

RXO (NYSE:RXO) last posted its quarterly earnings results 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 return on equity of 1.16% and a negative net margin of 1.83%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts anticipate that RXO will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RXO. Royal Bank of Canada grew its stake in RXO by 14.3% in the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock valued at $444,000 after acquiring an additional 2,902 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in RXO by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock worth $1,813,000 after acquiring an additional 4,134 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in RXO during the first quarter worth about $30,000. Strs Ohio purchased a new stake in shares of RXO in the first quarter valued at about $97,000. Finally, Quantbot Technologies LP purchased a new stake in shares of RXO in the second quarter valued at about $245,000. 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.