RXO (NYSE:RXO) Trading Down 5.8% After Analyst Downgrade

Shares of RXO, Inc. (NYSE:RXO) fell 5.8% during trading on Friday after Jefferies Financial Group lowered their price target on the stock from $26.00 to $20.00. Jefferies Financial Group currently has a buy rating on the stock. RXO traded as low as $13.26 and last traded at $13.25. 57,110 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,087,916 shares. The stock had previously closed at $14.07.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company lowered their price target on shares of RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Oppenheimer lowered shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, Barclays dropped their price objective on RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, RXO currently has an average rating of “Hold” and an average target price of $22.73.

Institutional Trading of RXO

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RXO by 1.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock valued at $712,000 after purchasing an additional 518 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after purchasing an additional 551 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after purchasing an additional 570 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The business’s 50-day moving average is $18.83 and its two-hundred day moving average is $24.29. The firm has a market cap of $2.23 billion, a P/E ratio of -6.43, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, analysts predict that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

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.