Analysts Set RXO, Inc. (NYSE:RXO) Price Target at $21.11

RXO, Inc. (NYSE:RXO) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.00.

RXO has been the subject of several research analyst reports. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. Raymond James initiated coverage on RXO in a report on Wednesday, May 15th. They issued a “market perform” rating for the company. TD Cowen lifted their price objective on RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, June 12th. Finally, Barclays lifted their price objective on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th.

RXO Trading Up 1.6 %

RXO stock opened at $29.90 on Friday. RXO has a 12 month low of $16.94 and a 12 month high of $30.72. The stock has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $21.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14.

RXO (NYSE:RXO) last posted its quarterly earnings results 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. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The firm had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. As a group, analysts expect that RXO will post 0.16 EPS for the current year.

Insider Transactions at RXO

In other RXO news, major shareholder Mfn Partners, Lp acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $19.44 per share, with a total value of $1,944,000.00. Following the completion of the purchase, the insider now directly owns 17,075,369 shares in the company, valued at approximately $331,945,173.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 216,936 shares of company stock valued at $4,284,289 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RXO

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of RXO in the fourth quarter worth about $27,000. Motco lifted its position in shares of RXO by 5,450.0% in the first quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after buying an additional 2,398 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after buying an additional 3,487 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of RXO by 62.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock worth $121,000 after buying an additional 1,987 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

About RXO

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.