RXO (NYSE:RXO) Upgraded at Zacks Research

Zacks Research upgraded shares of RXO (NYSE:RXO) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Several other research firms also recently commented on RXO. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Monday, February 9th. UBS Group reiterated a “neutral” rating on shares of RXO in a research note on Sunday, February 8th. TD Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, January 9th. Citigroup increased their target price on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Truist Financial increased their target price on RXO from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.07.

RXO Price Performance

RXO stock opened at $16.31 on Monday. RXO has a 12 month low of $10.43 and a 12 month high of $18.69. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $14.73 and its 200 day simple moving average is $14.73. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -28.11, a PEG ratio of 11.83 and a beta of 1.65.

RXO (NYSE:RXO) last posted its quarterly earnings data on Friday, February 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.06 EPS. RXO’s revenue for the quarter was down 11.9% on a year-over-year basis. Sell-side analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Investors Weigh In On RXO

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new stake in shares of RXO during the first quarter worth $30,000. Flagship Harbor Advisors LLC purchased a new stake in shares of RXO during the fourth quarter worth $25,000. Quarry LP purchased a new stake in shares of RXO during the third quarter worth $33,000. Larson Financial Group LLC lifted its position in shares of RXO by 146.5% during the third quarter. Larson Financial Group LLC now owns 2,766 shares of the company’s stock worth $43,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of RXO by 27.0% in the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after purchasing an additional 701 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.