Oppenheimer Asset Management Inc. Purchases 7,976 Shares of RXO, Inc. (NYSE:RXO)

Oppenheimer Asset Management Inc. boosted its position in shares of RXO, Inc. (NYSE:RXO) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,513 shares of the company’s stock after acquiring an additional 7,976 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RXO were worth $938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after acquiring an additional 510 shares during the period. Arizona State Retirement System grew its stake in shares of RXO by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after purchasing an additional 751 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of RXO by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,100 shares during the period. Quintet Private Bank Europe S.A. grew its stake in shares of RXO by 29.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after purchasing an additional 1,212 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of RXO by 14.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,095 shares of the company’s stock valued at $316,000 after purchasing an additional 1,513 shares during the period. 92.73% of the stock is currently owned by institutional investors.

RXO Stock Down 0.5 %

NYSE:RXO opened at $27.12 on Tuesday. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.36 billion, a P/E ratio of -13.70, a P/E/G ratio of 14.68 and a beta of 1.33. The stock’s fifty day simple moving average is $27.85 and its 200-day simple moving average is $26.19.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same period last year, the company earned $0.05 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that RXO, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price objective on shares of RXO in a research note on Monday, November 11th. Susquehanna decreased their price target on RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research report on Tuesday, November 12th. Oppenheimer reaffirmed an “outperform” rating and set a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $26.47.

RXO Profile

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.