RXO Sees Unusually Large Options Volume (NYSE:RXO)

RXO, Inc. (NYSE:RXO) saw some unusual options trading on Monday. Traders purchased 10,957 put options on the company. This represents an increase of 4,050% compared to the average volume of 264 put options.

RXO Price Performance

Shares of RXO stock opened at $14.01 on Tuesday. RXO has a 52 week low of $12.39 and a 52 week high of $32.82. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.30 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. The company’s 50-day moving average price is $18.68 and its two-hundred day moving average price is $24.17.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, sell-side analysts anticipate that RXO will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RXO

A number of institutional investors and hedge funds have recently modified their holdings of RXO. FMR LLC raised its position in shares of RXO by 439.5% during the third quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after purchasing an additional 38,970 shares during the period. Wolverine Trading LLC acquired a new stake in RXO during the 3rd quarter worth about $233,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. Barclays PLC increased its position in shares of RXO by 185.5% in the third quarter. Barclays PLC now owns 908,873 shares of the company’s stock worth $25,449,000 after acquiring an additional 590,530 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 441,994 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of RXO from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer lowered shares of RXO from an “outperform” rating to a “market perform” rating in a research note on Friday, April 4th. Citigroup reduced their price objective on RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Truist Financial began coverage on RXO in a research report on Thursday, March 13th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average target price of $22.73.

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.