RXO (NYSE:RXO) Lowered to Neutral at Bank of America

Bank of America lowered shares of RXO (NYSE:RXOFree Report) from a buy rating to a neutral rating in a research report report published on Thursday morning, MarketBeat reports. They currently have $22.00 price target on the stock, down from their prior price target of $25.00.

A number of other research firms also recently weighed in on RXO. Stifel Nicolaus raised their target price on shares of RXO from $20.00 to $22.00 and gave the company a hold rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded shares of RXO from a neutral rating to an underweight rating and decreased their target price for the company from $17.00 to $16.00 in a research report on Wednesday, October 11th. Finally, Vertical Research cut shares of RXO from a buy rating to a hold rating and set a $23.00 price target for the company. in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $20.58.

Read Our Latest Stock Analysis on RXO

RXO Stock Performance

Shares of RXO stock opened at $20.28 on Thursday. The company has a market capitalization of $2.37 billion, a P/E ratio of 507.13, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. RXO has a 52 week low of $16.94 and a 52 week high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.29 and a current ratio of 1.17. The company’s 50 day moving average price is $22.31 and its two-hundred day moving average price is $20.21.

RXO (NYSE:RXOGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company had revenue of $978.00 million during the quarter, compared to the consensus estimate of $996.33 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts expect that RXO will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at RXO

In related news, major shareholder Mfn Partners, Lp bought 747,424 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was bought at an average price of $20.25 per share, for a total transaction of $15,135,336.00. Following the purchase, the insider now owns 13,755,649 shares in the company, valued at approximately $278,551,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RXO news, major shareholder Mfn Partners, Lp purchased 747,424 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average cost of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the transaction, the insider now owns 13,755,649 shares in the company, valued at $278,551,892.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine S. Breves purchased 5,100 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $101,490.00. Following the completion of the transaction, the director now owns 6,948 shares of the company’s stock, valued at approximately $138,265.20. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 922,850 shares of company stock worth $18,594,726. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On RXO

A number of hedge funds have recently bought and sold shares of RXO. LPL Financial LLC bought a new position in RXO during the fourth quarter worth about $205,000. PNC Financial Services Group Inc. bought a new position in RXO during the fourth quarter worth about $91,000. Advisor Group Holdings Inc. bought a new position in RXO during the fourth quarter worth about $482,000. Victory Capital Management Inc. bought a new position in RXO in the 4th quarter valued at about $15,584,000. Finally, Sei Investments Co. bought a new position in RXO in the 4th quarter valued at about $458,000. 92.73% of the stock is owned by institutional investors.

RXO Company Profile

(Get Free Report)

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.

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Analyst Recommendations for RXO (NYSE:RXO)

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