Stephens Reiterates “Equal Weight” Rating for RXO (NYSE:RXO)

Stephens reaffirmed their equal weight rating on shares of RXO (NYSE:RXO) in a research report released on Monday morning, Benzinga reports. Stephens currently has a $22.00 price objective on the stock.

RXO has been the subject of several other research reports. Susquehanna increased their target price on RXO from $15.00 to $16.00 and gave the stock a negative rating in a research report on Monday, March 25th. Bank of America downgraded shares of RXO from a buy rating to a neutral rating and dropped their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Vertical Research lowered shares of RXO from a buy rating to a hold rating and set a $23.00 price objective for the company. in a report on Wednesday, January 10th. TD Cowen lifted their target price on RXO from $19.00 to $20.00 and gave the stock a hold rating in a report on Friday, May 3rd. Finally, Oppenheimer lowered their price objective on shares of RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $20.55.

RXO Price Performance

Shares of RXO stock opened at $20.46 on Monday. The business has a 50 day moving average of $20.56 and a 200 day moving average of $20.93. RXO has a 52 week low of $16.94 and a 52 week high of $24.33. The company has a market cap of $2.40 billion, a PE ratio of -227.33, a P/E/G ratio of 7.91 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. During the same period last year, the company posted $0.11 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that RXO will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the transaction, the insider now directly owns 17,280,434 shares in the company, valued at approximately $346,818,310.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have bought 1,127,999 shares of company stock worth $22,097,846. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Motley Fool Asset Management LLC raised its stake in RXO by 287.9% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after purchasing an additional 1,174,361 shares during the period. Norges Bank purchased a new stake in RXO during the 4th quarter valued at $24,250,000. Jacobs Levy Equity Management Inc. boosted its stake in RXO by 290.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock worth $17,142,000 after buying an additional 646,540 shares during the period. Intrinsic Edge Capital Management LLC increased its position in RXO by 325.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock valued at $18,551,000 after acquiring an additional 610,166 shares during the last quarter. Finally, 683 Capital Management LLC raised its stake in shares of RXO by 154.9% in the third quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock valued at $12,824,000 after acquiring an additional 395,000 shares during the period. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.