RXO’s (RXO) Neutral Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of RXO (NYSE:RXO) in a research report sent to investors on Monday, Marketbeat reports. The firm currently has a $29.00 price target on the stock.

Several other research analysts have also commented on RXO. Susquehanna reduced their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley increased their price objective on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Citigroup cut RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 target price on shares of RXO in a research report on Monday, November 11th. Finally, Jefferies Financial Group dropped their price target on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.47.

RXO Price Performance

RXO opened at $27.12 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 12 month low of $18.75 and a 12 month high of $32.82. The stock has a fifty day moving average price of $27.85 and a 200-day moving average price of $26.19.

RXO (NYSE:RXO) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. As a group, equities research analysts expect that RXO will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in RXO by 40.0% in the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of RXO by 2.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock worth $668,000 after buying an additional 575 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in RXO by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock worth $390,000 after acquiring an additional 650 shares during the period. Finally, Arizona State Retirement System raised its position in RXO by 2.3% during the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after acquiring an additional 751 shares in the last quarter. Hedge funds and other 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.