Brokerages Set RXO, Inc. (NYSE:RXO) Price Target at $22.73

RXO, Inc. (NYSE:RXO) has been given an average rating of “Hold” by the seventeen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.73.

Several brokerages have recently commented on RXO. Stifel Nicolaus lowered 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. Citigroup cut their price objective on shares of RXO from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Benchmark reiterated a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Barclays cut their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial started coverage on shares of RXO in a research note on Thursday, March 13th. They issued a “buy” rating and a $24.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in RXO by 439.5% during the third quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after purchasing an additional 38,970 shares during the last quarter. Wolverine Trading LLC bought a new stake in shares of RXO in the third quarter valued at approximately $233,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares in the last quarter. Barclays PLC boosted its holdings in RXO by 185.5% in the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock worth $25,449,000 after buying an additional 590,530 shares during the period. Finally, Geode Capital Management LLC grew its stake in RXO by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock valued at $85,563,000 after buying an additional 441,994 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $13.21 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $23.92. RXO has a 12 month low of $12.39 and a 12 month high of $32.82. The firm has a market capitalization of $2.17 billion, a PE ratio of -6.23, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last posted its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Analysts forecast that RXO will post 0.31 EPS for the current fiscal year.

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.