RXO’s (RXO) “Hold” Rating Reaffirmed at Benchmark

Benchmark restated their hold rating on shares of RXO (NYSE:RXO) in a research report sent to investors on Friday morning, Benzinga reports.

Other equities analysts have also issued research reports about the stock. Susquehanna increased their price target on shares of RXO from $15.00 to $16.00 and gave the company a negative rating in a research report on Monday, March 25th. Stifel Nicolaus increased their price target on shares of RXO from $20.00 to $22.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Vertical Research lowered shares of RXO from a buy rating to a hold rating and set a $23.00 target price for the company. in a research report on Wednesday, January 10th. Bank of America lowered shares of RXO from a buy rating to a neutral rating and cut their target price for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Finally, Oppenheimer cut their target price on shares of RXO from $23.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $20.23.

RXO Price Performance

RXO opened at $19.37 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of 484.37, a PEG ratio of 6.66 and a beta of 1.08. The firm has a 50-day moving average of $20.95 and a 200 day moving average of $20.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $24.33.

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

Insider Activity at RXO

In related news, major shareholder Mfn Partners, Lp bought 747,424 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average cost of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the purchase, the insider now directly owns 13,755,649 shares of the company’s stock, valued at approximately $278,551,892.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 2,578,268 shares of company stock valued at $52,301,046 over the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RXO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kirr Marbach & Co. LLC IN raised its stake in RXO by 0.3% in the third quarter. Kirr Marbach & Co. LLC IN now owns 191,715 shares of the company’s stock valued at $3,783,000 after purchasing an additional 653 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in RXO by 16.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $121,000 after purchasing an additional 770 shares in the last quarter. Sei Investments Co. raised its stake in shares of RXO by 4.9% during the fourth quarter. Sei Investments Co. now owns 17,323 shares of the company’s stock worth $403,000 after acquiring an additional 811 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after acquiring an additional 820 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of RXO by 0.3% during the third quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock worth $6,981,000 after acquiring an additional 905 shares in 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.