RXO (NYSE:RXO) Given New $20.00 Price Target at Wells Fargo & Company

RXO (NYSE:RXO) had its price objective reduced by Wells Fargo & Company from $22.00 to $20.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

RXO has been the subject of several other research reports. Morgan Stanley decreased their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Susquehanna lowered their target price on RXO from $18.00 to $13.00 and set a “negative” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus decreased their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, Benchmark restated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.33.

RXO Stock Performance

Shares of RXO stock opened at $18.86 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -8.90, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The business has a 50-day moving average of $21.31 and a 200 day moving average of $25.19. RXO has a 12 month low of $17.50 and a 12 month high of $32.82.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 forecast that RXO will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On RXO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after acquiring an additional 2,009,937 shares in the last quarter. Norges Bank acquired a new stake in shares of RXO in the 4th quarter valued at about $28,342,000. Franklin Resources Inc. boosted its position in shares of RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company’s stock valued at $39,971,000 after purchasing an additional 923,307 shares during the period. Zimmer Partners LP purchased a new position in RXO during the 3rd quarter worth approximately $22,680,000. Finally, State Street Corp increased its position in RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after buying an additional 602,741 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.