RXO (NYSE:RXO) Sets New 52-Week Low – Time to Sell?

RXO, Inc. (NYSE:RXO) shares hit a new 52-week low during trading on Monday . The company traded as low as $12.19 and last traded at $12.31, with a volume of 1198246 shares changing hands. The stock had previously closed at $13.24.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Truist Financial initiated coverage on shares of RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of RXO from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Susquehanna dropped their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group reduced their target price on shares of RXO from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.73.

RXO Price Performance

The business has a fifty day moving average of $18.05 and a 200-day moving average of $23.78. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.03 billion, a PE ratio of -5.84, a PEG ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, research analysts predict that RXO, Inc. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On RXO

A number of institutional investors and hedge funds have recently made changes to their positions in RXO. Barclays PLC increased its stake in RXO by 185.5% in the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock worth $25,449,000 after acquiring an additional 590,530 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in RXO in the third quarter valued at approximately $28,000. Franklin Resources Inc. bought a new stake in RXO during the third quarter valued at approximately $22,344,000. Principal Financial Group Inc. grew its stake in RXO by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock worth $18,206,000 after buying an additional 66,159 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of RXO by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock worth $7,618,000 after buying an additional 113,685 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.