RXO (NYSE:RXO) Receives “Neutral” Rating from The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of RXO (NYSE:RXO) in a report published on Monday, MarketBeat Ratings reports. They currently have a $29.00 target price on the stock.

A number of other research firms have also issued reports on RXO. Jefferies Financial Group lowered their target price on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Citigroup downgraded shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 price target on shares of RXO in a research note on Monday, November 11th. Susquehanna dropped their target price on RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research report on Tuesday, November 12th. Finally, TD Cowen increased their price target on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RXO has an average rating of “Hold” and an average target price of $26.47.

RXO Stock Performance

NYSE RXO opened at $27.91 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. RXO has a 1-year low of $18.75 and a 1-year high of $32.82. The firm has a market capitalization of $4.49 billion, a P/E ratio of -14.10, a P/E/G ratio of 14.77 and a beta of 1.33. The business’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $26.26.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. RXO’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities analysts predict that RXO will post 0.12 EPS for the current year.

Hedge Funds Weigh In On RXO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of RXO by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after purchasing an additional 441,994 shares during the last quarter. Barclays PLC grew its stake in RXO by 185.5% during the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock worth $25,449,000 after buying an additional 590,530 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. Zimmer Partners LP bought a new stake in RXO in the third quarter valued at $22,680,000. Finally, Wolverine Trading LLC acquired a new position in shares of RXO during the third quarter valued at $233,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.