Barclays Raises RXO (NYSE:RXO) Price Target to $17.00

RXO (NYSE:RXO) had its price objective upped by equities research analysts at Barclays from $15.00 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 9.68% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. UBS Group reiterated a “neutral” rating on shares of RXO in a report on Sunday, February 8th. TD Cowen reaffirmed a “hold” rating on shares of RXO in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of RXO in a research note on Monday, December 22nd. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Monday, February 9th. Finally, Citigroup lifted their target price on RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.47.

RXO Price Performance

Shares of RXO opened at $15.50 on Wednesday. RXO has a one year low of $10.43 and a one year high of $20.58. The stock’s fifty day moving average is $14.92 and its 200-day moving average is $15.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -26.72, a price-to-earnings-growth ratio of 11.61 and a beta of 1.67.

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

Hedge Funds Weigh In On RXO

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Attestor Capital Ltd purchased a new position in RXO in the 4th quarter worth about $3,610,000. Invesco Ltd. boosted its holdings in shares of RXO by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,172,748 shares of the company’s stock worth $14,824,000 after buying an additional 216,399 shares during the period. Corient Private Wealth LLC purchased a new position in shares of RXO in the fourth quarter worth approximately $152,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of RXO by 41.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,436 shares of the company’s stock valued at $195,000 after acquiring an additional 4,499 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of RXO in the 4th quarter valued at approximately $129,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.