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

Shares of RXO, Inc. (NYSE:RXO) gapped down prior to trading on Thursday . The stock had previously closed at $31.90, but opened at $29.49. RXO shares last traded at $29.98, with a volume of 350,542 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Susquehanna decreased their target price on RXO from $20.00 to $16.00 and set a “negative” rating for the company in a research report on Thursday, September 26th. UBS Group boosted their target price on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Jefferies Financial Group cut their price objective on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Finally, TD Cowen upped their price objective on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.23.

RXO Price Performance

The firm has a market capitalization of $4.65 billion, a PE ratio of -163.66, a PEG ratio of 11.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $27.81 and a 200-day simple moving average of $25.66.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $934.14 million. During the same period in the prior year, the business posted $0.08 EPS. RXO’s revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that RXO, Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of RXO

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP grew its position in shares of RXO by 433.8% during the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after purchasing an additional 45,510 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in RXO in the 1st quarter worth $542,000. Boston Partners boosted its holdings in shares of RXO by 150.0% during the 1st quarter. Boston Partners now owns 42,526 shares of the company’s stock valued at $930,000 after purchasing an additional 25,519 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of RXO by 225.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company’s stock valued at $2,380,000 after purchasing an additional 75,395 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after purchasing an additional 1,523,650 shares in the last quarter. 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.