RXO (NYSE:RXO) Stock Rating Lowered by Citigroup

RXO (NYSE:RXO) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday,Finviz reports. They currently have a $33.00 price target on the stock. Citigroup’s target price points to a potential upside of 12.21% from the stock’s previous close.

RXO has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Oppenheimer restated an “outperform” rating and set a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. Barclays upped their target price on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley boosted their price target on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.57.

RXO Stock Down 1.3 %

Shares of RXO stock opened at $29.41 on Tuesday. The firm has a market cap of $4.73 billion, a PE ratio of -14.85, a P/E/G ratio of 12.28 and a beta of 1.33. The business’s 50 day simple moving average is $27.86 and its 200 day simple moving average is $25.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.33. RXO has a 52-week low of $17.96 and a 52-week high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. On average, analysts predict that RXO will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of RXO

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of RXO by 2,235.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock valued at $80,000 after buying an additional 3,487 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of RXO by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,420 shares of the company’s stock worth $2,240,000 after buying an additional 1,348 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of RXO in the first quarter valued at approximately $151,000. Oppenheimer & Co. Inc. increased its position in shares of RXO by 11.2% during the first quarter. Oppenheimer & Co. Inc. now owns 21,207 shares of the company’s stock valued at $464,000 after acquiring an additional 2,138 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in RXO by 24.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 24,962 shares of the company’s stock worth $546,000 after acquiring an additional 4,958 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.