RXO (NYSE:RXO) Price Target Raised to $30.00

RXO (NYSE:RXO) had its target price hoisted by Truist Financial from $26.00 to $30.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on RXO. BMO Capital Markets started coverage on shares of RXO in a research note on Monday. They set an “outperform” rating and a $35.00 price target for the company. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 price objective (up from $19.00) on shares of RXO in a research report on Thursday, May 7th. TD Cowen increased their target price on shares of RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Bank of America reduced their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their target price on shares of RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.57.

RXO Stock Performance

Shares of RXO stock opened at $29.41 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -48.22 and a beta of 2.03. The stock’s 50-day moving average is $25.69 and its 200-day moving average is $19.06. RXO has a one year low of $10.43 and a one year high of $29.86.

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

Institutional Trading of RXO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd lifted its stake in RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after acquiring an additional 2,104,597 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of RXO by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 17,309,811 shares of the company’s stock worth $218,796,000 after purchasing an additional 93,130 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of RXO by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after purchasing an additional 735,810 shares during the period. State Street Corp raised its holdings in shares of RXO by 3.7% in the 4th quarter. State Street Corp now owns 6,370,232 shares of the company’s stock valued at $80,520,000 after purchasing an additional 230,053 shares during the period. Finally, Geode Capital Management LLC lifted its stake in RXO by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,876,488 shares of the company’s stock valued at $49,008,000 after purchasing an additional 18,110 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

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.