RXO (NYSE:RXO) Rating Lowered to “Market Perform” at Oppenheimer

Oppenheimer downgraded shares of RXO (NYSE:RXO) from an outperform rating to a market perform rating in a report released on Friday morning, MarketBeat.com reports.

A number of other research firms also recently commented on RXO. Deutsche Bank Aktiengesellschaft started coverage on RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 price target for the company. Truist Financial started coverage on shares of RXO in a research report on Thursday, March 13th. They issued a “buy” rating and a $24.00 target price for the company. Barclays reduced their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Susquehanna reduced their target price on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, RXO has a consensus rating of “Hold” and an average target price of $24.80.

RXO Stock Down 8.4 %

Shares of RXO opened at $14.44 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO has a 12 month low of $13.77 and a 12 month high of $32.82. The firm’s 50 day moving average is $20.49 and its 200-day moving average is $24.91. The stock has a market capitalization of $2.36 billion, a PE ratio of -6.81, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities research analysts forecast that RXO will post 0.31 EPS for the current year.

Institutional Trading of RXO

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in RXO by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company’s stock valued at $2,079,000 after buying an additional 8,377 shares during the last quarter. FMR LLC raised its stake in shares of RXO by 439.5% during the third quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after acquiring an additional 38,970 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of RXO by 16.3% during the third quarter. MetLife Investment Management LLC now owns 78,455 shares of the company’s stock worth $2,197,000 after purchasing an additional 10,993 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RXO by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,588 shares of the company’s stock worth $6,932,000 after purchasing an additional 4,415 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in RXO in the third quarter valued at $1,149,000. 92.73% of the stock is owned by institutional investors and hedge funds.

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.