RXO (NYSE:RXO) Trading Down 3.5% – What’s Next?

RXO, Inc. (NYSE:RXO)’s share price was down 3.5% during trading on Friday . The company traded as low as $23.81 and last traded at $23.95. Approximately 247,660 shares were traded during trading, a decline of 71% from the average daily volume of 862,576 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

RXO has been the topic of several research analyst reports. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Tuesday, November 12th. Susquehanna decreased their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a report on Tuesday, November 12th. Oppenheimer reissued an “outperform” rating and issued a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 target price on shares of RXO in a research note on Monday, November 11th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Two equities 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 company presently has an average rating of “Hold” and a consensus price target of $26.47.

RXO Stock Performance

The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -12.63, a P/E/G ratio of 15.82 and a beta of 1.32. The company’s fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $27.38. 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 (NYSE:RXO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same period last year, the business earned $0.05 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RXO. Principal Financial Group Inc. boosted its holdings in RXO by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after purchasing an additional 66,159 shares during the period. Franklin Resources Inc. bought a new stake in RXO during the third quarter valued at $22,344,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of RXO in the 3rd quarter valued at about $28,000. Geode Capital Management LLC boosted its position in shares of RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock valued at $85,563,000 after acquiring an additional 441,994 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of RXO by 185.5% during the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock valued at $25,449,000 after acquiring an additional 590,530 shares during the last quarter. Hedge funds and other institutional investors 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.