RXO (NYSE:RXO) Reaches New 1-Year Low After Analyst Downgrade

RXO, Inc. (NYSE:RXO)’s stock price reached a new 52-week low during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $24.00 to $21.00. The Goldman Sachs Group currently has a neutral rating on the stock. RXO traded as low as $12.75 and last traded at $12.89, with a volume of 2093105 shares trading hands. The stock had previously closed at $14.21.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Morgan Stanley cut their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Barclays reduced their price target on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, RXO has a consensus rating of “Hold” and an average price target of $23.40.

Institutional Investors Weigh In On RXO

Several institutional investors and hedge funds have recently made changes to their positions in RXO. Vanguard Group Inc. increased its position in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after purchasing an additional 2,009,937 shares during the period. FIL Ltd boosted its stake in shares of RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after purchasing an additional 596,158 shares during the last quarter. State Street Corp boosted its stake in shares of RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of RXO by 34.3% during the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock worth $68,589,000 after buying an additional 916,379 shares during the period. Finally, Geode Capital Management LLC raised its stake in RXO by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock worth $80,185,000 after buying an additional 307,492 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Trading Down 6.3 %

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 firm has a market cap of $2.29 billion, a price-to-earnings ratio of -6.60, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. The firm’s fifty day moving average is $19.07 and its 200-day moving average is $24.39.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current year.

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.