RXO’s (RXO) “Hold” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their hold rating on shares of RXO (NYSE:RXO) in a report released on Wednesday, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Oppenheimer decreased their target price on shares of RXO from $23.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday, February 13th. TD Cowen upped their target price on shares of RXO from $19.00 to $20.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Stephens restated an equal weight rating and issued a $22.00 target price on shares of RXO in a research report on Monday, May 6th. Susquehanna increased their price objective on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a report on Monday, March 25th. Finally, Raymond James assumed coverage on shares of RXO in a report on Wednesday, May 15th. They issued a market perform rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $19.90.

RXO Price Performance

RXO opened at $20.06 on Wednesday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -222.83, a price-to-earnings-growth ratio of 8.14 and a beta of 1.27. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company’s 50-day moving average price is $20.34 and its 200 day moving average price is $21.24. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. RXO’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, sell-side analysts expect that RXO will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other RXO news, major shareholder Mfn Partners, Lp bought 5,139 shares of RXO stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average cost of $20.39 per share, for a total transaction of $104,784.21. Following the completion of the acquisition, the insider now owns 15,593,694 shares of the company’s stock, valued at approximately $317,955,420.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders acquired 1,128,060 shares of company stock worth $22,099,090. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of RXO

A number of large investors have recently added to or reduced their stakes in RXO. SG Capital Management LLC lifted its position in shares of RXO by 139.3% in the 1st quarter. SG Capital Management LLC now owns 213,892 shares of the company’s stock valued at $4,678,000 after acquiring an additional 124,525 shares in the last quarter. Boston Partners lifted its position in shares of RXO by 150.0% in the 1st quarter. Boston Partners now owns 42,526 shares of the company’s stock valued at $930,000 after acquiring an additional 25,519 shares in the last quarter. Swedbank AB purchased a new stake in shares of RXO in the 1st quarter valued at approximately $76,982,000. Comerica Bank lifted its position in shares of RXO by 219.0% in the 1st quarter. Comerica Bank now owns 170,377 shares of the company’s stock valued at $3,726,000 after acquiring an additional 116,974 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of RXO by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 654,337 shares of the company’s stock valued at $14,310,000 after acquiring an additional 2,913 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.