JPMorgan Chase & Co. Raises RXO (NYSE:RXO) Price Target to $25.00

RXO (NYSE:RXO) had its target price increased by JPMorgan Chase & Co. from $16.00 to $25.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also issued reports on RXO. Stephens reissued an equal weight rating and issued a $22.00 price objective on shares of RXO in a report on Monday, May 6th. TD Cowen increased their price target on RXO from $19.00 to $20.00 and gave the stock a hold rating in a research note on Friday, May 3rd. Susquehanna lifted their price objective on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a research note on Monday, March 25th. Benchmark reiterated a hold rating on shares of RXO in a research report on Wednesday, June 12th. Finally, Raymond James began coverage on shares of RXO in a research note on Wednesday, May 15th. They set a market perform rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $20.80.

RXO Stock Performance

Shares of RXO opened at $27.18 on Tuesday. The firm has a fifty day moving average of $22.08 and a 200-day moving average of $21.58. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -302.00, a price-to-earnings-growth ratio of 10.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14. RXO has a 1 year low of $16.94 and a 1 year high of $28.13.

RXO (NYSE:RXO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $929.50 million. During the same period in the previous year, the business posted $0.11 EPS. RXO’s revenue was down 9.6% on a year-over-year basis. As a group, equities analysts anticipate that RXO will post 0.18 earnings per share for the current year.

Insider Activity at RXO

In other RXO news, major shareholder Mfn Partners, Lp purchased 105,065 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $20.07 per share, for a total transaction of $2,108,654.55. Following the completion of the transaction, the insider now owns 17,280,434 shares in the company, valued at approximately $346,818,310.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 1,122,921 shares of company stock valued at $21,994,306 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On RXO

Several hedge funds have recently modified their holdings of RXO. Illinois Municipal Retirement Fund increased its stake in RXO by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock worth $1,513,000 after purchasing an additional 543 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of RXO by 1.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after acquiring an additional 820 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,109 shares during the period. GAMMA Investing LLC purchased a new stake in shares of RXO in the 4th quarter valued at approximately $27,000. Finally, Texas Permanent School Fund Corp boosted its stake in RXO by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,420 shares of the company’s stock worth $2,240,000 after purchasing an additional 1,348 shares during the period. 92.73% of the stock is owned by hedge funds and other 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.