The Goldman Sachs Group Boosts RXO (NYSE:RXO) Price Target to $20.00

RXO (NYSE:RXO) had its price objective upped by equities research analysts at The Goldman Sachs Group from $18.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 32.00% from the company’s previous close.

A number of other research firms have also recently issued reports on RXO. Zacks Research upgraded shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Stephens upgraded shares of RXO to a “hold” rating in a report on Wednesday, July 8th. BMO Capital Markets initiated coverage on shares of RXO in a report on Monday. They set an “outperform” rating and a $35.00 target price for the company. Susquehanna raised their target price on RXO from $18.00 to $20.00 and gave the stock a “negative” rating in a research note on Tuesday. Finally, Citigroup assumed coverage on RXO in a report on Wednesday. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.57.

RXO Stock Up 3.1%

Shares of RXO stock opened at $29.41 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. RXO has a 52-week low of $10.43 and a 52-week high of $29.86. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -48.22 and a beta of 2.03. The company’s 50 day moving average price is $25.69 and its 200-day moving average price is $19.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of RXO by 14.3% in the 1st quarter. Royal Bank of Canada now owns 23,251 shares of the company’s stock worth $444,000 after purchasing an additional 2,902 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of RXO by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,940 shares of the company’s stock valued at $1,813,000 after buying an additional 4,134 shares during the period. Geneos Wealth Management Inc. bought a new position in RXO in the first quarter worth about $30,000. Strs Ohio purchased a new position in shares of RXO during the 1st quarter worth approximately $97,000. Finally, Quantbot Technologies LP purchased a new position in shares of RXO during the 2nd quarter worth approximately $245,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Company Profile

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.