RXO (NYSE:RXO) PT Raised to $20.00 at TD Cowen

RXO (NYSE:RXO) had its price objective boosted by TD Cowen from $19.00 to $20.00 in a report issued on Friday, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the stock.

Several other research firms have also recently weighed in on RXO. Bank of America cut shares of RXO from a buy rating to a neutral rating and decreased their target price for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Oppenheimer decreased their target price on RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, February 13th. Vertical Research downgraded RXO from a buy rating to a hold rating and set a $23.00 price target for the company. in a research note on Wednesday, January 10th. Stifel Nicolaus raised their price target on shares of RXO from $20.00 to $22.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. Finally, Benchmark reaffirmed a hold rating on shares of RXO in a report on Friday, April 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, RXO has a consensus rating of Hold and a consensus price target of $20.55.

RXO Trading Up 0.6 %

Shares of NYSE:RXO opened at $20.54 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -228.17, a PEG ratio of 7.91 and a beta of 1.24. RXO has a 12 month low of $16.94 and a 12 month high of $24.33. The company’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $20.91.

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

Insider Transactions at RXO

In other news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $21.04 per share, with a total value of $19,350,908.80. Following the acquisition, the insider now directly owns 14,675,369 shares in the company, valued at approximately $308,769,763.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders purchased 2,047,358 shares of company stock worth $41,441,391. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Large investors have recently bought and sold shares of the company. Douglas Lane & Associates LLC grew its holdings in RXO by 2.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after acquiring an additional 66,757 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of RXO by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after acquiring an additional 23,497 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RXO by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after acquiring an additional 93,885 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in RXO by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock valued at $42,415,000 after acquiring an additional 141,056 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of RXO by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 1,777,512 shares of the company’s stock worth $41,345,000 after buying an additional 138,365 shares during the period. 92.73% of the stock is currently owned by institutional investors.

RXO Company 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.