Wells Fargo & Company Lowers RXO (NYSE:RXO) Price Target to $28.00

RXO (NYSE:RXO) had its target price decreased by research analysts at Wells Fargo & Company from $31.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 11.24% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 target price on shares of RXO in a research report on Monday, November 18th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Susquehanna decreased their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. Oppenheimer reiterated an “outperform” rating and set a $31.00 price target on shares of RXO in a research note on Tuesday, September 17th. Finally, Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Tuesday, November 12th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.27.

RXO Trading Down 2.2 %

Shares of NYSE:RXO traded down $0.56 during mid-day trading on Tuesday, hitting $25.17. The company had a trading volume of 129,976 shares, compared to its average volume of 729,513. 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 one year low of $18.75 and a one year high of $32.82. The firm has a fifty day moving average price of $27.43 and a 200 day moving average price of $27.80. The company has a market capitalization of $4.05 billion, a PE ratio of -12.71, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52.

RXO (NYSE:RXO) last announced 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 negative net margin of 6.81% and a positive return on equity of 1.64%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that RXO will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RXO. JPMorgan Chase & Co. grew its position in RXO by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock worth $7,618,000 after purchasing an additional 113,685 shares during the period. Principal Financial Group Inc. increased its position in RXO by 11.3% during the third quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after acquiring an additional 66,159 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of RXO in the third quarter worth approximately $22,344,000. Wilmington Savings Fund Society FSB bought a new stake in RXO during the third quarter valued at approximately $28,000. Finally, Geode Capital Management LLC increased its holdings in RXO by 16.9% during the third quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock valued at $85,563,000 after buying an additional 441,994 shares during 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.