RXO’s (RXO) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of RXO (NYSE:RXO) in a research note released on Monday, MarketBeat reports. They currently have a $31.00 price target on the stock.

Several other brokerages also recently weighed in on RXO. Barclays upped their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley boosted their price target on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. UBS Group boosted their target price on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, TD Cowen lifted their price target on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.57.

RXO Stock Down 1.3 %

RXO stock opened at $29.41 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.17. The stock has a market capitalization of $4.73 billion, a P/E ratio of -14.85, a P/E/G ratio of 12.28 and a beta of 1.33. The business has a fifty day moving average price of $27.86 and a 200-day moving average price of $25.91. RXO has a 1-year low of $17.96 and a 1-year high of $32.82.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RXO. Landscape Capital Management L.L.C. bought a new stake in shares of RXO during the third quarter worth $278,000. Intech Investment Management LLC bought a new stake in shares of RXO in the third quarter valued at about $625,000. Jennison Associates LLC purchased a new stake in RXO in the third quarter worth about $792,000. Thrivent Financial for Lutherans lifted its stake in RXO by 10.5% in the third quarter. Thrivent Financial for Lutherans now owns 107,817 shares of the company’s stock worth $3,019,000 after acquiring an additional 10,235 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in RXO by 6.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 20,639 shares of the company’s stock valued at $578,000 after purchasing an additional 1,318 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.