Citigroup Raises RXO (NYSE:RXO) Price Target to $18.00

RXO (NYSE:RXO) had its price objective hoisted by equities researchers at Citigroup from $15.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 18.03% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Bank of America upped their price target on shares of RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Oppenheimer downgraded shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday, April 4th. The Goldman Sachs Group lowered their target price on shares of RXO from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.00.

RXO Stock Performance

RXO opened at $15.25 on Wednesday. The firm has a market cap of $2.50 billion, a P/E ratio of -7.19, a PEG ratio of 4.55 and a beta of 1.71. RXO has a 1-year low of $12.19 and a 1-year high of $32.82. The company has a 50 day simple moving average of $15.54 and a two-hundred day simple moving average of $21.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) earnings per share. Equities analysts forecast that RXO will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in RXO during the first quarter valued at $30,000. Intech Investment Management LLC raised its stake in shares of RXO by 87.1% in the first quarter. Intech Investment Management LLC now owns 94,527 shares of the company’s stock valued at $1,805,000 after acquiring an additional 44,001 shares during the period. Fred Alger Management LLC raised its stake in shares of RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock valued at $40,202,000 after acquiring an additional 371,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of RXO by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock valued at $1,813,000 after acquiring an additional 4,134 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of RXO by 14.3% in the first quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock valued at $444,000 after acquiring an additional 2,902 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.