Rxo Inc $RXO Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Rxo Inc (NYSE:RXO) by 21,691.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 146,222 shares of the company’s stock after acquiring an additional 145,551 shares during the period. Fifth Third Bancorp owned approximately 0.09% of RXO worth $2,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RXO. Geneos Wealth Management Inc. acquired a new position in RXO during the 1st quarter valued at approximately $30,000. Flagship Harbor Advisors LLC purchased a new position in shares of RXO in the fourth quarter worth $25,000. Quarry LP acquired a new stake in shares of RXO during the third quarter worth $33,000. Larson Financial Group LLC lifted its stake 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 buying an additional 1,644 shares during the period. Finally, Strs Ohio purchased a new stake in shares of RXO during the first quarter valued at $97,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on RXO. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 target price (up from $19.00) on shares of RXO in a research report on Thursday, May 7th. UBS Group lifted their price target on RXO from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Susquehanna boosted their price target on RXO from $18.00 to $20.00 and gave the company a “negative” rating in a research note on Tuesday, July 14th. Weiss Ratings raised RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group increased their price objective on RXO from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.57.

RXO Stock Up 1.7%

NYSE:RXO opened at $29.35 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 company’s fifty day moving average price is $26.04 and its 200-day moving average price is $19.34. Rxo Inc has a 1-year low of $10.43 and a 1-year high of $29.90. The firm has a market capitalization of $4.84 billion, a P/E ratio of -48.12 and a beta of 2.03.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that Rxo Inc will post 0.07 EPS for the current year.

RXO 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.