The Goldman Sachs Group Cuts RXO (NYSE:RXO) Price Target to $15.00

RXO (NYSE:RXO) had its target price lowered by The Goldman Sachs Group from $17.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on RXO. Wall Street Zen upgraded RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley cut their price target on RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of RXO in a report on Wednesday. Finally, UBS Group upped their price target on RXO from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.23.

RXO Price Performance

Shares of RXO stock opened at $16.61 on Thursday. The firm has a market cap of $2.72 billion, a PE ratio of -7.69, a PEG ratio of 8.31 and a beta of 1.65. RXO has a 12 month low of $12.19 and a 12 month high of $31.98. The stock has a 50 day moving average of $16.03 and a 200 day moving average of $15.75. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company’s revenue for the quarter was up 52.6% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, research analysts expect that RXO will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On RXO

Several hedge funds have recently made changes to their positions in RXO. AlphaQuest LLC purchased a new position in shares of RXO during the second quarter worth about $29,000. Geneos Wealth Management Inc. acquired a new stake in shares of RXO during the first quarter worth about $30,000. Larson Financial Group LLC boosted its stake in shares of RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after buying an additional 1,632 shares during the period. CWM LLC boosted its stake in shares of RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company’s stock worth $36,000 after buying an additional 1,315 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of RXO by 25.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock worth $54,000 after buying an additional 688 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.