Rhumbline Advisers Grows Stake in RXO, Inc. (NYSE:RXO)

Rhumbline Advisers grew its position in RXO, Inc. (NYSE:RXO) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413,204 shares of the company’s stock after purchasing an additional 4,337 shares during the quarter. Rhumbline Advisers owned about 0.25% of RXO worth $7,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of RXO by 228.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after buying an additional 868 shares during the period. Mackenzie Financial Corp lifted its stake in shares of RXO by 37.2% during the fourth quarter. Mackenzie Financial Corp now owns 9,967 shares of the company’s stock worth $238,000 after buying an additional 2,700 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of RXO during the fourth quarter worth $267,000. Finally, Xponance Inc. lifted its stake in shares of RXO by 29.6% during the fourth quarter. Xponance Inc. now owns 11,508 shares of the company’s stock worth $274,000 after buying an additional 2,631 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company decreased their target price on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Oppenheimer downgraded shares of RXO from an “outperform” rating to a “market perform” rating in a research report on Friday, April 4th. Jefferies Financial Group decreased their target price on shares of RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Barclays decreased their price objective on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

RXO Stock Up 1.8%

RXO stock opened at $16.51 on Wednesday. The stock has a market capitalization of $2.71 billion, a P/E ratio of -7.79, a P/E/G ratio of 4.55 and a beta of 1.73. The firm has a 50-day simple moving average of $14.75 and a 200-day simple moving average of $20.38. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. RXO, Inc. has a 52 week low of $12.19 and a 52 week high of $32.82.

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

RXO 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.