RXO (NYSE:RXO) Coverage Initiated by Analysts at Raymond James

Raymond James began coverage on shares of RXO (NYSE:RXO) in a research note published on Wednesday, Marketbeat reports. The firm issued a market perform rating on the stock.

RXO has been the topic of a number of other research reports. Bank of America downgraded RXO from a buy rating to a neutral rating and lowered their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Benchmark reiterated a hold rating on shares of RXO in a research report on Friday, April 19th. Stephens restated an equal weight rating and issued a $22.00 price objective on shares of RXO in a research report on Monday, May 6th. Oppenheimer lowered their target price on shares of RXO from $23.00 to $22.00 and set an outperform rating on the stock in a research note on Tuesday, February 13th. Finally, Susquehanna boosted their price target on shares of RXO from $15.00 to $16.00 and gave the stock a negative rating in a research note on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $20.55.

RXO Price Performance

NYSE RXO traded up $0.20 during trading hours on Wednesday, hitting $21.17. The company had a trading volume of 44,698 shares, compared to its average volume of 635,773. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -233.00, a PEG ratio of 7.85 and a beta of 1.24. RXO has a 52 week low of $16.94 and a 52 week high of $24.33. The firm has a 50 day simple moving average of $20.57 and a 200 day simple moving average of $21.03.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million during the quarter, compared to analyst estimates of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. RXO’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. Equities research analysts expect that RXO will post 0.21 earnings per share for the current year.

Insider Activity

In related news, major shareholder Mfn Partners, Lp purchased 35,985 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were acquired at an average cost of $20.22 per share, with a total value of $727,616.70. Following the purchase, the insider now directly owns 15,629,679 shares of the company’s stock, valued at $316,032,109.38. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have purchased 1,128,060 shares of company stock valued at $22,099,090. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RXO

A number of large investors have recently added to or reduced their stakes in the company. MFN Partners Management LP boosted its holdings in shares of RXO by 19.8% during the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock worth $340,922,000 after purchasing an additional 2,580,330 shares during the period. Motley Fool Asset Management LLC lifted its holdings in RXO by 287.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock worth $34,605,000 after buying an additional 1,174,361 shares during the period. Norges Bank bought a new stake in shares of RXO in the 4th quarter worth approximately $24,250,000. Jacobs Levy Equity Management Inc. increased its stake in shares of RXO by 290.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock valued at $17,142,000 after buying an additional 646,540 shares during the period. Finally, Intrinsic Edge Capital Management LLC increased its stake in shares of RXO by 325.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 797,542 shares of the company’s stock valued at $18,551,000 after buying an additional 610,166 shares during the period. 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.