RXO (NYSE:RXO) Trading 6.8% Higher Following Analyst Upgrade

Shares of Rxo Inc (NYSE:RXO) traded up 6.8% on Thursday after The Goldman Sachs Group raised their price target on the stock from $18.00 to $20.00. The Goldman Sachs Group currently has a neutral rating on the stock. RXO traded as high as $28.69 and last traded at $28.90. 261,267 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,287,262 shares. The stock had previously closed at $27.07.

Other equities research analysts have also recently issued reports about the company. Susquehanna lifted their target price on RXO from $18.00 to $20.00 and gave the stock a “negative” rating in a research note on Tuesday. Citizens Jmp began coverage on shares of RXO in a research report on Wednesday. They set a “market perform” rating for the company. Morgan Stanley restated an “equal weight” rating and set a $22.00 price objective (up from $19.00) on shares of RXO in a report on Thursday, May 7th. Weiss Ratings raised shares of RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Finally, Wells Fargo & Company boosted their target price on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.57.

More RXO News

Here are the key news stories impacting RXO this week:

• Positive Sentiment: Truist Financial raised its price target on RXO from $26 to $30 and reiterated a buy rating, signaling confidence in further upside from current levels. Analyst update via Benzinga
• Positive Sentiment: BMO Capital Markets initiated coverage with an outperform rating and a $35 price target, one of the more bullish calls in the latest batch. BMO Capital Markets initiation via Benzinga
• Neutral Sentiment: Goldman Sachs raised its target from $18 to $20 but kept a neutral rating, suggesting valuation may be more limited despite the higher target. Goldman Sachs update via Benzinga
• Neutral Sentiment: Citizens JMP initiated coverage with a market perform rating, indicating a more cautious stance and no strong conviction either way. Citizens JMP coverage via Zacks
• Neutral Sentiment: Susquehanna also lifted its price target to $20, but that still sits well below the current trading level, implying limited near-term upside from their perspective. Susquehanna update

Hedge Funds Weigh In On RXO

Several large investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of RXO during the 4th quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC bought a new position in RXO in the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. purchased a new position in RXO in the 1st quarter valued at approximately $30,000. Quarry LP purchased a new position in RXO in the 3rd quarter valued at approximately $33,000. Finally, City Holding Co. raised its holdings in RXO by 227.6% during the 2nd quarter. City Holding Co. now owns 1,245 shares of the company’s stock valued at $34,000 after acquiring an additional 865 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

The firm has a market cap of $4.70 billion, a P/E ratio of -46.76 and a beta of 2.03. The business’s fifty day simple moving average is $25.54 and its 200-day simple moving average is $18.99. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. As a group, analysts forecast that Rxo Inc will post 0.07 EPS for the current fiscal year.

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.