RXO (NYSE:RXO) Shares Gap Down – Here’s What Happened

Rxo Inc (NYSE:RXO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $27.77, but opened at $26.44. RXO shares last traded at $25.5650, with a volume of 190,464 shares traded.

Analysts Set New Price Targets

Several analysts have commented on RXO shares. TD Cowen lifted their price target on RXO from $14.00 to $21.00 and gave the company a “hold” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Zacks Research raised shares of RXO from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. UBS Group boosted their target price on shares of RXO from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Finally, Barclays upped their price target on shares of RXO from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.57.

RXO Price Performance

The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -42.06 and a beta of 2.03. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $26.56 and a 200 day simple moving average of $19.60.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) 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 company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted ($0.03) EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that Rxo Inc will post 0.07 EPS for the current year.

Institutional Investors Weigh In On RXO

Several institutional investors have recently bought and sold shares of RXO. City Holding Co. raised its stake in shares of RXO by 227.6% in 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. Geneos Wealth Management Inc. purchased a new stake in RXO during the 1st quarter worth $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in RXO in the 1st quarter valued at $29,000. Flagship Harbor Advisors LLC acquired a new stake in RXO in the 4th quarter valued at $25,000. Finally, Quarry LP purchased a new position in RXO in the third quarter valued at about $33,000. 92.73% of the stock is currently owned by hedge funds and other 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.