RXO (NYSE:RXO) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of RXO (NYSE:RXO – Get Rating) in a research note published on Wednesday morning, The Fly reports. The firm issued an overweight rating and a $27.00 target price on the stock.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group lifted their price objective on RXO from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Thursday, February 9th. UBS Group lifted their price objective on RXO from $20.00 to $23.00 and gave the stock a neutral rating in a research report on Thursday, February 9th. Stephens restated an equal weight rating and issued a $20.00 target price on shares of RXO in a research note on Wednesday, February 8th. Oppenheimer raised their target price on RXO from $21.00 to $24.00 and gave the company an outperform rating in a research note on Thursday, February 9th. Finally, Cowen initiated coverage on RXO in a research note on Monday, February 27th. They issued a market perform rating and a $22.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RXO presently has a consensus rating of Hold and a consensus price target of $22.00.

RXO Stock Performance

Shares of NYSE:RXO opened at $20.22 on Wednesday. RXO has a 1 year low of $14.75 and a 1 year high of $25.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $18.66.

RXO (NYSE:RXO – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.07 billion. The firm’s revenue was down 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that RXO will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of RXO

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in RXO by 5.7% in the 1st quarter. SG Americas Securities LLC now owns 17,916 shares of the company’s stock worth $352,000 after acquiring an additional 968 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in shares of RXO in the first quarter worth $26,000. Allspring Global Investments Holdings LLC purchased a new position in shares of RXO in the fourth quarter worth $25,000. Bessemer Group Inc. acquired a new stake in shares of RXO in the fourth quarter worth $26,000. Finally, Tilia Fiduciary Partners Inc. acquired a new stake in shares of RXO in the first quarter worth $30,000. 9.85% of the stock is currently owned by institutional investors.

RXO Company Profile

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RXO, Inc provides full truckload freight transportation brokering services through its proprietary digital marketplace in North America. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was founded in 2022 and is based in Charlotte, North Carolina.