RXO (NYSE:RXO) Price Target Increased to $26.00 by Analysts at Morgan Stanley

RXO (NYSE:RXO) had its price objective boosted by Morgan Stanley from $19.00 to $26.00 in a report released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on RXO. TD Cowen increased their target price on shares of RXO from $23.00 to $28.00 and gave the stock a hold rating in a report on Thursday, August 8th. Barclays increased their target price on shares of RXO from $24.00 to $30.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. UBS Group increased their target price on shares of RXO from $22.00 to $31.00 and gave the stock a neutral rating in a report on Thursday, August 8th. Raymond James began coverage on shares of RXO in a report on Wednesday, May 15th. They issued a market perform rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of RXO from $25.00 to $26.00 and gave the stock an underweight rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RXO currently has an average rating of Hold and a consensus target price of $25.18.

RXO Price Performance

RXO traded down $0.51 on Monday, hitting $27.62. 66,750 shares of the stock were exchanged, compared to its average volume of 703,240. RXO has a 12 month low of $16.94 and a 12 month high of $32.82. The business has a 50-day moving average of $26.19 and a two-hundred day moving average of $22.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -312.56, a PEG ratio of 5.60 and a beta of 1.38.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. RXO’s revenue was down 3.4% compared to the same quarter last year. Sell-side analysts forecast that RXO will post 0.17 EPS for the current fiscal year.

Institutional Trading of RXO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXO. International Assets Investment Management LLC increased its position in RXO by 2,008.5% during the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after purchasing an additional 4,941 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of RXO by 1.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after buying an additional 820 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of RXO during the 4th quarter worth approximately $1,361,000. GAMMA Investing LLC acquired a new stake in shares of RXO during the 4th quarter worth approximately $27,000. Finally, Motley Fool Asset Management LLC grew its position in shares of RXO by 1.1% during the 4th quarter. Motley Fool Asset Management LLC now owns 407,963 shares of the company’s stock worth $9,489,000 after buying an additional 4,305 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.