RXO, Inc. (NYSE:RXO) Receives $20.23 Average Price Target from Analysts

RXO, Inc. (NYSE:RXO) has been assigned a consensus rating of “Reduce” from the eleven brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.23.

RXO has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Susquehanna raised their price target on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Wednesday, January 10th. TD Cowen increased their target price on RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a research note on Friday, February 9th. Finally, Bank of America lowered RXO from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th.

RXO Stock Up 2.1 %

NYSE RXO opened at $21.82 on Friday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 545.64, a price-to-earnings-growth ratio of 7.64 and a beta of 1.08. RXO has a 52 week low of $16.94 and a 52 week high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average of $21.12 and a 200-day moving average of $20.84.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The firm had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue was down 12.7% on a year-over-year basis. On average, equities research analysts forecast that RXO will post 0.22 EPS for the current year.

Insider Buying and Selling at RXO

In related news, major shareholder Mfn Partners, Lp acquired 747,424 shares of the stock in a transaction dated Friday, February 2nd. The stock was bought at an average price of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the transaction, the insider now directly owns 13,755,649 shares of the company’s stock, valued at $278,551,892.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On RXO

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of RXO by 43.2% during the first quarter. BlackRock Inc. now owns 15,931,874 shares of the company’s stock worth $312,902,000 after buying an additional 4,804,495 shares during the period. Geode Capital Management LLC bought a new stake in RXO in the 4th quarter valued at approximately $25,891,000. Millennium Management LLC acquired a new position in RXO during the 4th quarter worth approximately $20,030,000. Fred Alger Management LLC grew its stake in shares of RXO by 3,073.1% during the 1st quarter. Fred Alger Management LLC now owns 1,111,911 shares of the company’s stock worth $21,838,000 after acquiring an additional 1,076,869 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RXO in the fourth quarter valued at approximately $24,250,000. 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.